I can't remember a time where I really wanted to see the Pro Bowl other than when I knew I'd get a rare glimpse of watching Barry Sanders dazzle the world. I think it's time for it to be replaced.
I say, if you want to continue to have the game, great, have the game.
Schedule the Pro Bowl voting to be completed on the Friday before Wild Card weekend. That way players who shined later in the season get recognized.
Announce the teams a few weeks after the Super Bowl.
Have the Pro Bowl played in the middle of May, where it's warm in most locations and then have it played in locations that won't ever have a Super Bowl unless they build a dome. Cities like, Cincinnati, Cleveland, Pittsburgh (with a better field), Green Bay, etc ...
There's a set amount for players already participating in the game, however, increase this to further entice players to participate and also make the winner of the game reward far greater as well.
After the game is concluded, announce the player of the year awards, coaching awards, etc ... or perhaps announce them during half time?
Essentially make an event out of it and increase the dollars to get the stars to show up.
I miss the times where you could see what QB could throw the farthest, who the fastest man in the NFL was, bring those back, again, make an event out of it!
That would be my rough idea.