This is a great question and I would certainly prefer a system similar to what you have proposed. I used the Pandora's Box reference on purpose as that was a terrible thing for humanity. I think the current open-season NIL, with state legislators falling all over themselves to make it easier for their schools to direct NIL money to potential recruits, is very dangerous and will end very poorly. It's like unfettered capitalism. Sounds like a great idea but invariably results in a crash because humans are inherently selfish.
I am worried about the legality of your idea as well because the Supreme Court opinion was so strong and the court rarely allows a limitation of rights that the court provides. As an example, when the Supreme Court desegregated schools in 1954, it shut down every effort by local jurisdictions to limit desegregation. States could make desegregation easier, but not harder. Rights can be expanded beyond what the Supreme Court grants, but not reduced