A third party is desperately needed, but it should wait until after this next election, regardless of who wins, but especially if Hillary wins. Time is needed to defeat the LSM and he lies that will be told about what a real third party will be like and what it stand for.
Instead of a third party, I think the Republicans need a purge, an enema, new leadership, and less douche-baggery. They have been tone deaf, downright nasty to the TEA Party, and overly protective of the elite donor class. It seems that the only effort of a creating a “larger tent” fell on deaf ears - no one seemed to know what that meant, except letting in those icky great unwashed people who were not able to toe the rock-ribbed, big “C” Conservative line. They may have learned how to win some elections, but fell on their faces when trying to govern. Rebuild, renew, have a Trump-led coupe, and get moving. We have no time to waste.