Glad we're talking in Narnia here so I don't come off dumber than I already am.
What i'd do is try to beef up the hoops with as many name-coaches as you can get and going with a 'best of the rest' formula with football.
I'd add:
San Diego St.
UNLV
BYU
...in a heartbeat. All three of those schools help you a ton in terms of building depth to the conference.
On the hoops side, BYU's had a lot of recent success while UNLV obviously has history of their own. Steve Fisher's a nice name to add along with Calvin Sampson, Larry Brown, Kevin Ollie and the like. On the football side, you're adding a lot of the same. To me - those three are no brainers.
Where you go from there is where it gets kind of interesting. To me - the three you'd look at the hardest would be UMass, Boise State and Buffalo.
Buffalo would be interesting with Bobby Hurley coaching there on the hoops side, although their football hardly brings anything worth getting excited about. That being said - they have a lot of depth in other sports - especially baseball - that could make them an interesting fit. Not sure they're a big money mover in the way others are, but there's some potential there.
Boise State is purely a football move - although I'd argue that they really hurt you in every other way. Football's king though.
UMass I'm kind of ambivalent to. They kill you in football, but the hoops def. brings up that middling group in your conference. Add them to a conference where you have UConn, Cinncinnati, Temple, SMU, San Diego State, BYU UNLV, Tulsa and a hopefully rising soon Houston, and you've got yourself a surprisingly decent hoops conference. Obviously the geographic rivalry with UConn is nice, but it gets Temple back on the hoops side as a rivalry game for them. They've played BYU in years past and that's always been a fun game. In Football they're just... they are what they are. I'm sure a geographic rivalry with UConn doesn't HURT, but it's not a money maker in any meaningful sense.
But in a world where we can talk in impossibilities, this is probably the direction i'd head in. I'd also flirt with the possibility of Boise State in football only and adding Gonzaga in hoops only as something worth discussing... Sure - football drives the dollars, but the American needs to build brand and rep. Whichever path you can get to the fastest is the one you should take.