I must admit, I have my concerns about being in one of the P2. I don't see FSU as an SEC school, though regionally FSU fits well, I see FSU at it's best in the east coast. FSU would be on an island in the BigTen unless there are another minimum of 3 ACC schools taken as well in which I don't see it happening. That brings me to option #3, starting a new conference.
The AAC was born with 4 members as the foundation left over from the BE separation. If a jail break occurs in the ACC, then it would be my preference that we start over with a new conference with 2 big rules: (1) Home games get 100% of the revenue minus the ticket sales done through the visiting team. (2) A double share of post season revenue would be given to the earner.
These 2 rules would not only favor FSU, but is also favorable to other successful athletic programs like Penn State who can sell out a 110k stadium. If there is a chance to get them to flip, these rules would help.
Obviously the foundation for this new conference would be made up of current members of the ACC, so assuming everybody becomes a free agent, I'd start with the following: FSU, Clem, UM, GT, UNC, NCSU, VT, UL, Pitt, it would make a solid round robin and all schools are better than average tv draws and are highly competitive. SU would be the next man up and the eventual goal would be to get to 12 for a conference championship game with WVU as a target.
I'll leave room for discussion about whether this is a good idea, who would be included, should partial membership be included, etc.