I like the second one best.That's largely what I was going to suggest. I think we need to make the elections about issues, not expenditures. That means nobody can put a penny of their own money into their own campaign (except to donate the the general process that they will eventually get a slice of).
1) As a consequence of their FCC licenses, all radio and television stations are required to run a certain number of commercials at various times of the day for *ALL* candidates in a particular race. These times are pre-defined so that all candidates will get primetime and off-primetime commercials. Absolutely no negative campaigning is allowed under any circumstances.
2) We add "none of the above" to the ballot. If "none of the above" wins, a second election will be held 6 weeks later and none of the people on the previous ballot will be considered. Obviously, people didn't want any of them, why run them again?
3) You can fundraise all you want, but you cannot fundraise for a particular candidate or party. All fundraising revenue is given to the general fund.
There's probably more to add.