The problem with giving the kids a cut of the profits on the jersey or money for appearing in the ad for the local pest control company or taco truck is that ultimately it gives the schools that have better ties to big markets (Ga Tech <Atlanta>, BC <Boston>, Notre Dame <Chicago>, St. John's <NYC> etc... a huge advantage over schools in mid-size (Syracuse) or small markets Virginia Tech <Blacksburg>, Clemson (Clemson, SC).
College Sports is an amateur pursuit. If you don't want to do it for the education, room and board, free meals, and free travel then move along to you next destination. If the Universities make some money on the deal, lets hope they use it for the greater good.
Maybe place limits on coaches' salaries?? or Stadium spending, as Penn State is about to drop $700 million on upgrades to its Beaver Lodge. Can't they build two new ones for that price tag??