The Electoral College system does have a serious
problem - it is fundamentally a sound system but
the problem lies in the way the states apportion
their EC votes.
In 48 states it's done one a winner
take all basis. One state allocates them on the basis
of the statewide popular vote and one by popular
vote in each Congressional District.
Statewide winner take all creates a situation where Republicans
in New York or Democrats in Oklahoma
are ignored by their own parties and the whole
presidential campaign is only really conducted in the few
(10 or 12) states that are not "safe" for one major party
or the other.
So- bad system. Allocating EC slots proportionally OTOH
would put all states in play and be significantly better
for minor parties, But the place to be reforming this
is at the state level.
In states that have the initiative system for getting this
on the ballot, a statewide measure passed in 2014
would put this in place for 2016. Which means time is
already short. Would love to see this happen in my
own state (Oregon).