Each State has as many Electoral College votes as they have combined Senators and Representatives. Currently it takes a minimum of 270 Electoral College votes to win, regardless of the national popular vote count.
When George Bush won over Al Gore, Al Gore actually achieved something like 2.6 million more popular votes (from memory here), but Bush had greater than 270 Electoral College votes (thanks to Florida), so Bush became the President. In this case Bush also had won 30 of the 50 States.
What I'm proposing is that if a candidate wins the popular vote, and also wins 34 States, he is to be declared the President even if his opponent has achieved 270 or more electoral College votes. This would do a bit more than does the current system to prevent a few large states from determining the elections outcome, and if in the future there is even greater concentration of the Electoral College votes among only a few huge States, this would then be an even greater protection measure.
As it stands now, Obama seems to be on track to rack up roughly 290 Electoral College votes, but he is likely going to lose the popular vote by a substantial margin, as well as winning far less States than will Romney. It is very unlikely that Romney will carry 34 States, but if he did, under my proposed Amendment he would be the winner if he achieves this plus the popular vote, even if Obama wins 270 or more Electoral College votes. As it stands now however, if Romney wins roughly only the Bush equivalent of 30 States and also the popular vote, and if Obama gets more than 270 Electoral College votes, Obama wins. I believe Obama will accomplish exactly this, despite garnering far less popular votes on the national level than will Romney.
Perhaps I should initially have stipulated a 60% majority of the States (which is 30) instead of a 2/3 majority (which is 34)?