This idea, proposed by historian Arthur Schlesinger Jr., retains the current Electoral College system, but also awards extra electoral votes as a bonus to the winner of the popular vote.
The amount suggested by Schlesinger in his National Bonus Plan is 102 extra electoral votes (two for every state and two for Washington, DC)
The extra boost of electoral votes would almost always be able to guarantee that the popular vote winner would also be the electoral college winner.
While technically maintaining the institution, this option compensates for the uneven power given to the states by the Electoral College.
Encourages people to campaign and vote in non-competitive states in an attempt to win the popularvote.
Cons:
This method does not eliminate the spoiler dynamic of third party participation