One thing that could potentially work (assuming that the two sides would work together) is have it all on one weekend. The WCHA could eliminate the 9th and 10th seeds after the Regular Season, and play down to a Final Four. So you would have the WCHA Four and the B1G Four playing semifinal games on Friday and then title games on Saturday. You could sell tickets to all the games in one package, or buy just your conference games in another. If you alternated years for prime slots, perhaps the sides would be up for it. It would also lessen any potential blow of Minnesota, Wisconsin or North Dakota missing their conference Final Four, as I would imagine that there would be a certain percentage of fans that would buy the all-games package.
I can't imagine that Michigan, Michigan State, Penn State and Ohio State would be on board though. It does surprise me that the B1G decided to go with a tournament that would yield a max of 9 games, all on campus. Plus, as has been mentioned, the 2 seed is basically screwed. It does however put a great emphasis on winning the Regular Season.