For one thing, Clemson is NOT guilty of taking the easy way out on non-conference scheduling, so this format doesn't apply to us as much from an SOS opportunity standpoint, rather it's being able to get outside of two SEC teams every season with a Notre Dame sprinkled in.
So over the summer, I identified these 22 Power 5 programs that had room on their schedule (we weren't one of those - TA&M), without overloading and upsetting the 7 home game balance, that could have gone into effect in 2018 for a fixed, yet variable, 2-year home and home OOC game pool. This pool has since changed as a number of the schools have announced new pairings for one of those years (Alabama for one), but as a general guide, it's easy to see how programs could throw themselves in the pool for two years at a time and produce more compelling early season (or mid-season) matches.
Ranked in order of their prior 2-year records ('13-'14 seasons)
1. Oregon 2. Alabama 3. Louisville 4. Auburn 5. Wisconsin 6. South Carolina 7. Georgia Tech 8. Oklahoma State 9. Minnessota 10. Iowa 11. Boston College 12. Rutgers 13. Tennessee 14. Vanderbilt 15. Texas Tech 16. Oregon State 17. Florida 18. Syracuse 19. Kansas 20. Kentucky 21. Iowa State 22. Purdue
Some time in January, following bowl season, a committee could get together and assign that coming year's contests based on projections, expectations, competitiveness, history, and intrigue. One year half hosts, the next the other half hosts, so that would also be a factor in terms of who would be assigned to play each other.
Seeding would be best if it was based on groups, like four at a time where a 1 vs. 4, 5 vs. 8, 6 vs. 7 kind of thing was going on that acted as a general rule. If the list above were actually being scheduled this year, you can get a feel for what kind of OOC games this would have produced early on in the season.
From a scheduling standpoint, if you don't fill out holes years in advance you can get stuck with FCS or weak teams filling gaps. But a lot can change over a few years with a program's fortunes, so games that are scheduled 5-6 years out can pan out to be bombs when they finally come about. This format helps minimize that, while keeping destinations and visitors more relevant and interesting.