I seriously question the statement that the owners will get $5 billion from their TV rights even if no NFL games are played. I cannot see the major networks agreeing to a deal like that unless that $5 billion is a holdover from monies they should have earned in 2010.
The best thing that could happen to the league is to standarize rookie salaries according to draft position for a period of 2 to 3 years and keep those salaries reasonable. At the end of the period they become FA's, but their team has the right to match any offer they might receive.
Existing contracts can be re-nogitiated at any time, but all must be 4 year contracts (after the rookie contract). Once again, at the end of the contract, the player becomes a FA, but the owner has the right to match any offer. The dollar amounts/bonus etc. are between the player and team and are not regulated. Once you get these contracts to where there is only money involved, negotiations should go quickly.
There will be no franchise or transition tags. If you want the player, make the deal.
Keep the salary cap structure as it is.
Meet somewhere in the middle from what the owners are offering and the players are asking for in regards to a percentage of profit for the payroll.