Eh, I don't think the Big 12 will be around long enough to re-expand back to 12 teams. The money that kept the league together will never materialize. Texas is going to go independent just as soon as their TV network (backed by ESPN) is up and running. A&M and (probably) OU will go to the SEC, and the rest of the league will scatter. I think TCU will probably go to the Big East (maybe just in football) in a few weeks.
OU and OSU have to stick together. OK has a law in place that requires those 2 schools to stay in the same conference. I also do not think UT would be willing to go independent. They would never be able to pull in the the money. Now UT leaving that I would expect but I think they would want to make sure that some other Texas Schools go with them.