To me the ideal expansion option would be to add just 1 school.
Invite ND and Nebby.When the domers decline or want special treatment/extra $, say "sorry,no"
Nebraska would likely accept without special provisions
Then, with 12 schools in the conference, the football schedule would look like this:
Everyone would play a 12 game schedule with a bye week (or 13 game schedule without a bye week if the conf wanted to). Regardless, everyone plays everyone in conference.
Yes, thats right, 11 conference games for everyone in the New Big Ten.
Everyones bye week is on the same day at mid-season,say week 6.
Everyones non-conf game would be the first week of the season...(sorry Domers you turned us down twice, now you dont get to play with the Big Boys for the big $ anymore, good luck with your next tv contract with a schedule full of army,navy,air force,and mid-majors)
Positives:
True conference champion every year, maintains all the old rivalries and adding Nebby will create new ones quickly, good geograpical and academic fit, keeps Big Ten football on TV that extra week during which other conferences are having their so-called "conf. championship" games.
Negatives:
Brutal schedule ( this could also be a positive when it comes to strength of schedule/BCS rankings)
Im sure i missed some positives and some negatives so feel free to add to/pick apart the above "ideal" expansion idea...