I tihnk the current overtime process is dumb. I tihnk college overtime would be more dumb. And I think the suggestion earlier would be the dumbest of them all. No offense, I just felt like using the word dumb (not really dumb but I just dislike them).
Like stated, I think the solution is really simple. Have a 10 minute quarter played as normal with both teams getting 2 timeouts and a challenge. If it is tied at the end of the 10 minute quater, either play another quarter or go into sudden death.