I don't think Bama should get in with 2 losses ... I'd hate to have to beat them twice, but the conference champions angle is a little trickier. It actually isn't part of the initial evaluation the way the CFP is currently run. The committee is charged with finding the 4 best teams, regardless of the conference champ status. Only once two teams in consideration are deemed to be equal can they take into consideration whether one is a champion or not. That's how tOSU got in over PSU a few years back. The committee found that tOSU was definitely the better team than PSU even though they lost to them because PSU lost to Pitt and got drubbed by Michigan. The fact that PSU was the conf champ wasn't even considered.