If that shit happens, there will be a lot of very, very pissed off fans around the country, my entire family included. Hurt the team, but don't hurt the fans directly. A TV ban, while I can kind of see the point of depriving the athletic department of that profit, is directly hurting the fans of the program, as well as outside businesses. In addition, that is practically condemning the athletic department in this day and age, as well as the Big Ten as a conference, depending upon how they would construct the TV ban. A TV ban would kill not only the football team, but it would also likely do a ton of harm to the entire athletic department.
Punish the team, punish the coaches, but they sure as hell better not overstep bounds to directly punishing the fans, other businesses, and the entire athletic department. A bowl ban is one thing. That money is gravy/icing on the cake.
EDIT: Knowing the kind of ratings (and therefore cash cow) that tOSU is, I would bet ESPN (and FOX, etc.) would be pounding the NCAA's ass if they think a TV ban is even a slight possibility. Not to save tOSU of course, but to protect their investment, and make the NCAA realize what it would mean for the NCAA as well if they would like to make that TV ban a reality.