It would definitely be up for discussion, and there is a SLIM possibility that the committee could decide to do it. I expect that Oklahoma will end up in the playoff, though. Assuming Clemson and Alabama both win this next week (neither of which are guarantees), the only real question as who will be the #3 team between the Michigan/Iowa winner and Oklahoma? I'm guessing the playoff matchups will ultimately be as follows:

Orange Bowl: 1 Clemson vs 4 Oklahoma
Cotton Bowl: 2 Alabama vs 3 Michigan State

The other NY6 bowl games would then look something like this:

Rose Bowl: Stanford vs Ohio State
Sugar Bowl: TCU vs Ole Miss
Peach Bowl: Temple vs Florida State
Fiesta Bowl: Notre Dame vs Iowa