each with two 8 team divisions is 128 teams.

Each conference has a their division champions play for the conference championship.
Each of the 8 conference champions are seeded into an 8 team playoff based on record, SOS, or whatever.

Then it's just quarterfinals, semifinals and finals. The champion is decided on the field.

Or if you want to throw all 16 conference champs into a 16 team tourney that works too.
Or 8 champions plus 8 at large.

Really, anything is better than the current system.