Teams listed alphabetically. Since they had already played and the outcome was the same in Indy, I'm fine with you ignoring the B10 CG. I don't think it needs to come into play here. If you think it does, then by all means include it in your decision.
Minnesota - 10-2
2 losses: @ 9-3 Iowa by 4, vs 10-2 UW by 21
+ wins: vs PSU
West Division Co-Champion (lost tiebreaker h2h)
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Penn State- 10-2
2 losses: @ 10-2 Minn by 4, @ 12-0 OSU by 11
+ wins: @ Iowa, vs UM, vs IU
Second place team in East Division
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Wisconsin - 10-2 (for all intents and purposes)
2 losses: @ 6-6 ILL by 1, @ 12-0 OSU by 31
+ wins: vs UM, vs Iowa, @ Minn
West Division Co-Champion (won tiebreaker h2h)