If we want to keep the Big12 out of the CFP, I the best case disaster scenario would be for OU to win out and still get snubbed. I don't think that's likely.
However, is Baylor wins out and OU loses, then that leaves OkSU and Baylor as the two, one-loss Big12 teams. Baylor has the tie-breaker after winning head to head.
Baylor has a really poor OOC schedule, and I could see them getting snubbed by the committee.
If Baylor loses and OkSU beats OU, I think OkSU is probably in. If OU beats OkSU, then OU is almost guaranteed a spot (good season, with good wins and they are a blue-blood).
Of course, ND could smoke Stanford and steal the Big12's spot.