You're a blueblood for a very, very long time. Michigan's last AP National Championship was 1997, and they've been fucking abused by their rival ever since. Nebraska's still a blueblood, FFS. Notre Dame (last NC was ' 88), Michigan, Oklahoma, USC, Ohio State, Texas, Nebraska, Alabama. That's it.
Meyer has run out of luck, and the NCAA would be up your ass from day one. From an outsider's POV, I don't see any scenario when the divided "powers that be" at UT agree on Urban Meyer. The guy is toxic. Kyle Whittingham is your best bet, and he'll bolt for Austin as fast as Urban bolted for Gainesville, too.
What you guys have to ask yourselves RE: NCAA goings on: Who knew what at tOSU RE: spousal abuse, and when did they know it? tOSU got lucky that Urban snaked out when he did, and they didn't get kicked in the nuts by the NCAA. Keep the integrity, but go for the throat, and hire Kyle Whittingham.