Here's the reality a lot of us are overlooking:
If Jason Peter's doesn't want to be here he's not going to sign a new contract or any kind of extension. If he's destined to leave then we might as well get as much as humanly possible for him if someone else is interested. Sure we could franchise him next year but what if he plays like crap again this year. Then his value has depreciated immensely.
We need to learn from what the Patriots do. Bellichek has no fear of jettisoning players if he has a solid plan that will make the team better. Bledsoe, Milloy, McGinnest, Vinateri, Vrabel, Cassell... the list goes on and on. What he is masterful at is getting maximum value for those players and drafting smart. When was the last time you remember the Pats having just 1 first round draft choice.
If we're going to lose him after this year then get everything you can for him and sign an aging veteran cap casualty.