Forming a new conference won't happen because of the basketball issue with points towards NCAA tournament. I could see them coming back or possibly a CUSA-Sun Belt merger or association. Eastern schools go Sun Belt, western schools to CUSA. Reduces travel time, gets some rivalries back, etc. Not bad basketball on either side, decent football also. Each school would play 2 teams from the other "conference" every year 1-1 then move on to another pair of teams after 2 years.
Sun Belt: Marshall, ECU, USF, UCF, FIU, FAU, Memphis, M Tenn, W Kentucky, UAB, Troy State, South Alabama
CUSA: SMU, So Methodist, Tulane, La Tech, Ark State, La Lafayette, La Monroe, North Texas, UTEP, Tulsa, Rice, Houston