This format is actually very similar to the one I laid out when the program was cancelled. What's missing is to get other schools to join in so there's competitive balance.
What it needs is a conference of cold weather baseball programs from the same area, some MAC East teams, YSU, a revived Clevaland State and Duquesne, and maybe some other programs that don't want to spend millions chasing the dream of a Superregional asskicking. Play less games, or play more games per week and start later in the year (April). No long travel trips to the Sunbelt. No shovelling money into the program (like the other sports) chasing a dream of someday competing against the powerhouses.
And you're playing other D1 schools.
All it takes is a change in how college $port$ are run.
If this "self sustaining" method does come into play, I bet other schools will be watching closely. If it works, this idea might just happen.