One way to do it is consider who would be favored against whom. I suspect UGA and Michigan would be close to even on a neutral field, both would be favored over anyone else. The next two in might be Bama and Ohio State, but Texas could be favored or close to it as well.
This isn't what will happen of course, and it's not the methodology, and I'm not suggesting it should happen. It's just a way.
I kinda hope it ends up, realistically, UM UDubb FSU and Texas.