I think they do get back in provided they finally grow a pair and start testing. Or, if they have to, go back to amateurs only. Then softball, which the Olympics basically considers 'girl baseball' will get back in as well. The USOC and the Federal government should be all over the funding of this. For one, it it going to expand the talent pool that the USOC has to pick it's athletes. Two, more kids will be able to go to college. I'll leave out the politics of what can be cut to fund it all, but it's entirely possible.
Football can continue to operate by itself and fund itself. It's a billion dollar industry now, so I think they'll make it. Plus, it will mean football won't have to fund the other sports anymore, so they actually come out better.
I like the idea of full scholarships for marathoners, triathletes, cyclists, boxers, divers, swimmers, table tennis, water polo, etc. Basically turn it into one enormous Olympic Development program with the side benefit of a free education.