If we were to take Houston and turn their one loss into a win, I still think the following teams would get in over them into the playoff:

Oklahoma (1-loss Big 12 champion)
Michigan St/Iowa winner (0-to-1 loss Big Ten Champion)
Clemson/North Carolina winner (0-to-1 loss ACC Champion)
Alabama/Florida winner (1 or 2 loss SEC champion)

Out of the teams listed above, the only one that an undefeated AAC team MIGHT have a claim over would be if Florida wins the ACC, and that's only because they have 2 losses. In fact, you may argue that a Michigan St., Iowa, Clemson, or Alabama team would STILL be ranked ahead of them even if they lose.

As it is, 2 playoff spots are essentially already tied up with Oklahoma and the Big Ten champ. Clemson and Alabama will get the other 2 if they can win their title games. If not, the door will open for 2 other teams, but I think those teams would be North Carolina (12-1 ACC Champ), Florida (11-2 SEC Champ), Ohio St. (11-1), and maybe even some other teams.

Doesn't mean that an undefeated AAC team this year wouldn't finish in the top 10 and legitimately belong in a NY6 bowl even without an auto-bid (which they would have), but their chances of getting into the playoff this year would've been slim to none.