The PKI in its current form and application should really go. Cross-signing of a certificate by two or more independent CAs would be also a good step forward. And so would be a native support for certificate pinning in browsers. In other words, PKI should be used for bootstrapping the trust between two unacquainted parties, but it shouldn't be the only option, nor should be used as a trust provider on an on-going basis.
Consider this, if I hold a certificate for fubar.com, why am I not permitted to issue a certificate for xyz.fubar.com? Or, better yet - another certificate for fubar.com?
(edit) Also, "Enhancing digital certificate security" is such a bullshit title. Very odd to see this coming from Google. They must be very unnerved by the incident, or they are going to use it as a stepping stone to something else.