Here's my criteria.
1. Undefeated
Oregon, Indiana, BYU, Army
2. P4 with no more than 2 losses
1 loss: Ohio State, Penn State, Texas, Tennessee, Notre Dame, Miami, SMU
2 loss: Alabama, Ole Miss, Georgia, Texas A&M, Missouri, Kansas State, Colorado, Iowa State, Arizona State, Clemson, Pittsburgh
3. G5 with no more than 1 loss
Boise State, Washington State, Louisiana
This just so happens to be 25 teams, so let's rank them.
1. Oregon
2. Ohio State
3. Texas
4. Penn State
5. Tennessee
6. Indiana
7. Notre Dame
8. Alabama
9. Ole Miss
10. Georgia
11. BYU
12. Miami
13. SMU
14. Texas A&M
15. Boise State
16. Clemson
17. Army
18. Kansas State
19. Colorado
20. Missouri
21. Washington State
22. Iowa State
23. Arizona State
24. Pittsburgh
25. Louisiana
Teams not listed with AP votes: LSU, Louisville, South Carolina, Tulane, UNLV
#1 Oregon plays winner of #9 Notre Dame @ #8 Indiana
#2 Texas plays winner of #10 Alabama @ #7 Tennessee
#3 BYU plays winner of #11 Ole Miss @ #6 Penn State
#4 Miami plays #12 Boise State @ #5 Ohio State
First team out: Georgia (SEC)
4 - SEC, B1G
1 - ACC, ND, Big 12, MWC
1. Undefeated
Oregon, Indiana, BYU, Army
2. P4 with no more than 2 losses
1 loss: Ohio State, Penn State, Texas, Tennessee, Notre Dame, Miami, SMU
2 loss: Alabama, Ole Miss, Georgia, Texas A&M, Missouri, Kansas State, Colorado, Iowa State, Arizona State, Clemson, Pittsburgh
3. G5 with no more than 1 loss
Boise State, Washington State, Louisiana
This just so happens to be 25 teams, so let's rank them.
1. Oregon
2. Ohio State
3. Texas
4. Penn State
5. Tennessee
6. Indiana
7. Notre Dame
8. Alabama
9. Ole Miss
10. Georgia
11. BYU
12. Miami
13. SMU
14. Texas A&M
15. Boise State
16. Clemson
17. Army
18. Kansas State
19. Colorado
20. Missouri
21. Washington State
22. Iowa State
23. Arizona State
24. Pittsburgh
25. Louisiana
Teams not listed with AP votes: LSU, Louisville, South Carolina, Tulane, UNLV
#1 Oregon plays winner of #9 Notre Dame @ #8 Indiana
#2 Texas plays winner of #10 Alabama @ #7 Tennessee
#3 BYU plays winner of #11 Ole Miss @ #6 Penn State
#4 Miami plays #12 Boise State @ #5 Ohio State
First team out: Georgia (SEC)
4 - SEC, B1G
1 - ACC, ND, Big 12, MWC
