CFN did something similar, but strictly went with a 25-down-to-1 points for each final AP poll since 1936.  The results are similar to my formula, but I think a National Title and a 25th ranking should be worth more than 2 years at #13, or 1 year at #6 and another year at #20. 
CFN
	
		
			
		
		
	
				
			CFN
RANK...TEAM...................POINTS
1.....Oklahoma.....936
2.....Ohio State...908
3.....Michigan.....905
4.....Notre Dame...872.5
5.....Alabama......825
6.....Texas........750.5
7.....USC..........737
8.....Nebraska.....699
9.....Tennessee....678
10....Penn State...645
11....LSU..........530
12....Auburn.......517
13....Miami........511
14....Georgia......510
15....UCLA.........503
16....Florida......469
17....Florida St...443
18....Arkansas.....393
19....Michigan St..349
20....Texas A&M....337
21....Washington...330
22....Georgia Tech.317.5
23....Pitt.........293
24....Iowa.........291
25....Wisconsin....289
			
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