I know of no power 5 team that schedules a DII school. That being said, no one is going to be disqualified for playing a FCS (old 1-AA) school. That would be rediculous.
Your other points are good ones. I like a mandatory bye week for mid terms. Taking it further, don't schedule bowl games while schools are coming off of finals. That would push the start of bowl games to around Xmas.