Seems like apples and oranges in terms of the NFL vs CFB...The NFL salary cap is primarily set up so that NFL owners know what their expenses will be. And, it was collectively bargained. And, it fits into the league's system of making parity along with their scheduling system, etc.
Disagree on your last point - protectionism is giving everyone the same amount. And, without an overall spending cap there are other ways ACC schools other than FSU can invest in their programs to the point of being competitive.