The November/December tournaments would have to go away because of the limit on the number of games that can be played. If you keep the Nov/Dec tournaments, then the schools have to give up 3 usually home OOC games to play in the tournaments that you're creating if they're going to keep the number of conference games they're playing now (20 for just about everybody). To have your tournament, they could give up 1 usually home OOC game and 2 conference games, not very palatable pro$pect to many team$ and conference$. How are you going to convince a blue blood that a game against Penn State, BC, Cal, Nebraska, or {fill in the name of another bottom-feeder here} will do more for their image, schedule strength, etc., than a game against another blue blood?
If we are talking one game, I think teams would be fine. Most schools don't make money on that one game. More likely these Feb games woudl replace the conference challenges.
Your 2nd argument is silly. Are the Blue Bloods forced to play the Nebraska's of the world in the November/December tournaments? No. So why would it happen in February?
If people are concerned about number of games then limit it to a 4 team, 2 game tournament. The P4 (ACC, B16, SEC, B12) are the hosts. Which puts the other conferences at a disadvantage. The host conference would own the TV rights so the networks would be happy.
Something like...
ACC Host NYC - ACC1, B162, SEC3, B124
B16 Host Chicago - ACC4, B161, SEC2, B123
SEC Host Atlanta - ACC3, B164, SEC1, B122
B12 Host Kansas City - ACC2, B163, SEC4, B121
ACC Host Charlotte - ACC5, B166, SEC7, B128
B16 Host Indianapolis - ACC8, B165, SEC6, B127
SEC Host Dallas - ACC7, B168, SEC5, B126
B12 Host Houston - ACC6, B167, SEC8, B125
ACC Host DC - ACC9, B1610, SEC11, B1212
B16 Host LA - ACC12, B169, SEC10, B1211
SEC Host New Orleans - ACC11, B1612, SEC9, B1210
B12 Host Orlando - ACC10, B1611, SEC12, B129
ACC Host Miami - ACC13, B1614, SEC15, non P4
B16 Host Detroit - ACC15, B1613, SEC14, B1616
SEC Host Nashville - ACC14, B1615, SEC13, SEC16
You would try to put a host team as a close school to the location. You would need one non P4 teams to round it out. In this case if it were in Miami you would want a Florida school.