Unfortunately, there is no way he will get a medical redshirt this year. He has played in 6 games this season and NCAA rules state that you must have played in less that 30% of the games of the season (including post season). So even if we win out and play in the National Championship, (6 of 15 would be 40%) he would have played in too many games.
He will however, regardless of being drafted or not, be on an NFL team next year. "In the Coach Ferentz Era, 52 Hawkeyes have been selected in the NFL Draft, 115 Hawkeyes have been in an NFL camp, and 92% of all senior starters have either been selected on draft day or signed a free agent contract." ~ GoHawks.com Ott will not be one of the 8%.