There is no way the Big Ten goes to 16 teams without including Texas or Notre Dame. One interesting scenario I saw was the Big Ten adding two teams first, possibly Rutgers and Missouri, schools that would open up new markets for the B10 network, allow for a conference championship game and also start a chain reaction in the other conferences. As teams start to reevaluate their conference situation, schools, like Notre Dame, might realize that there are going to be some major changes coming and now's there best chance to get into the B10.
This would be a really bad idea. The other leagues are already working behind the scenes in negotiation. You want to be able to be the one that dictates the terms, which means you want as many choices as possible. If the Big Ten adds 2, then waits, other leagues are going to snatch up other teams, limiting the Big Ten's negotiating power.
However, if it was up to me and I was running the Big Ten I would go to 18 teams and add Rutgers, Nebby, ND, Mizzou, Syracuse, Pitt, and Kansas. Each league would play 8 games in their half of the conference and then play a ninth game based on final conference play standings. The game between the top two teams would be played at a neutral site and all the other games would rotate each with one conference hosting games one year and vice versa.
So If Iowa won the west and OSU won the east they would play at say Soldier Field. Then if Nebby was second in the west and UM was second in the east they would play at the home field of either school, based on the rotation.
The West would be
Nebby
ND
Wisky
Iowa
Minnesota
Kansas
Missouri
Illinois
NW
The East would be
UM
OSU
PSU
Syracuse
Rutgers
Pitt
Indiana
Purdue
MSU
While the football match-ups would be compelling, (Come on, would you really be that bummed about switching Nebby and ND for OSU and Michigan- particularly if you had a chance to play one of these teams at the end of the season?) the basketball match-ups could be just as good. The Big Ten Basketball tournament would be epic!