The BBWAA needs to removed from the process. Personally I'd like to see a small group of gatekeepers appointed, kind of like a Supreme Court setup. I wouldn't put a lot of ex-players on it. If you don't have a Whizzer White or Bill Bradley type of brain, then no sale.
The HOF committee could put together a list of nominees each year and then people could come in and argue the case for those nominees. Televise the whole thing.