Keep the electoral college, but eliminate the electors received for senators. If you live in Montana, your vote counts more than a Californian's does.
For what it's worth, the electoral system doesn't discrminate against regional candidates. In fact, it empowers them. A broad based third party candidate will never be elected. Just look at Perot. A third party candidate would have to be regionally based to win any electors at all, and would have to have a pretty darn big region to win the election.
For elections, they need to make election day a holiday. Then, they need to consider online voting, computerized voting, and eliminating lever and push card voting machines. Some of the intermediate scan-type machines are still cool, because they enter data electronically, and are easy to read.
They have wicked encryption for lots of stuff. No reason they can't make electronic voting secure enough to be useful.
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