Have you ever wondered why Ohio State got whipped in the BCS Championship two years in a row? Or why USC didn't play in the title game last year? Why all the BCS games last year were one-sided? Maybe, even why Illinois played in such a prestigious bowl? Our current college football playoff system needs fixing, and I have the perfect solution:

Be like the NFL (it works):
-Assign the top 12 teams using the BCS standings to two different brackets (6 and 6)
Round One- Start with 12 teams and have a wildcard (four teams get a bye)
Round Two- Have the divisional round with 8 teams
Round Three- With four teams, have two different games (bowls)
Round Four - With the final two teams, have one big bowl

With rounds three and four, use the BCS bowl titles for each game. Alternate the sponsor for the championship game every year and rotate the three bowls around each year (excluding the Allstate Sugar Bowl).
Example:

Year One: Round Three (Final Four)
Game One: Tostitos Fiesta Bowl Game Two: FedEx Orange Bowl
Year One: Round Four
Championship: Rose Bowl presented by Citi

Year Two: Round Three (Final Four)
Game One: Rose Bowl presented by Citi Game Two: Tostitos Fiesta Bowl
Year Two: Round Four (Final Two)
Championship: FedEx Orange Bowl

Year Three: Round Three (Final Four)
Game One: FedEx Orange Bowl Game Two: Rose Bowl presented by Citi
Year Three: Round Four (Final Two)
Championship: Tostios Fiesta Bowl

Every playoff game up until round three would have a sponsor instead of being a bowl. With all the teams that don't make the playoffs, have the normal bowl games with sponsors like they have always done. The Allstate Sugar Bowl would have to be a normal bowl game instead of a playoff bowl because there is only room for three of the BCS bowls in the last two rounds. All of the playoff games and bowls would be played at neutral sites like NFL stadiums.