If Wiscy/Iowa are going to be in separate divisions, I really think that pretty much guarantees that Iowa/Nebby are going to be in the same division.
There is NO WAY that the Big Ten is going to take away BOTH of Iowa's locked rivalries without throwing Iowa a bone as well. If the Big Ten is going to take away Minny/Wiscy, then I think Iowa will gain a rivalry with Nebbie. It is sad that Iowa/Minny wouldn't be an annual game (we have played Minny every season since 1935), but gaining a rivalry with Nebbie would be huge for the program. There is no way that Wiscy/Minny end up in opposite divisions, so my assumption would be that Wiscy/Minny in one division means that Iowa/Nebby in the other.
If this is true, I'm guessing this is the divisional alignment:
Division 1
Michigan
Michigan State
Iowa
Nebraska
Illinois
Northwestern
Division 2
Penn State
Ohio State
Wisconsin
Minnesota
Indiana
Purdue