It might be properly a legislative matter.
I think what he’s angling at, without saying it....is that if you want to deny free speech in any way or shape...then as a public institution and possible federal grants/programs attached...he can deny you your program money, and ‘order’ the AG to go after you. What this hurts is is the science and technology departments of these public colleges. It’d also put you on some ‘identification’ list as not supporting free speech, and that would bring on some negativity.
As for private institutions....zero affect.
On the campaign trail in 2020....I could see this being a major deal on campuses as MAGA hat rallies start to occur.