Right now, there are 77 bowl eligible teams and 70 bowl slots, according to Palm. Rutgers is the only other team that could become bowl eligible next week and realistically be in the running for a bowl slot. SMU is going down to UCF and no one cares if South Alabama becomes bowl eligible.
There are a bunch of leagues that have more bowl eligible teams than slots. Pac12 has 9 and 7 slots. ACC has 11 and 8 slots. If Clemson and FSU make it to the BCS, then it will be 9 and 7. So we need two at-larges for us all to go bowling. The SEC bowls will have an extra slot. The Big XII and B1G will have an extra slot. Those bowls will likely want to fill them will AQ conference teams. The AAC has 6 slots but only four teams. Not sure what bowl organizers there would do.
There are a bunch of lower level conferences with too many bowl eligibles. We should get the call over FAU (6-6), CMU (6-6), SJSU (6-6), Texas State (6-6), Troy (6-6), UL-Monroe (6-6), and Tulane (7-5). That brings us down to 70 teams. Only Rutgers could complicate things.