I'd love to see people try get this going. Call it, the bipartisan party!
You need a NEW party. A party that relies on and represents humanity. If The US wants to regain its status as leader of the free world, first it need to embrace that world and all human beings as equals. Get that right and the rest should follow.
There's not much hope of a third party in Presidential politics, but congress and state level could work out pretty well, with funding.
However, I think we're diverging on how to tackle fixing it. I mentioned bipartisan because the OP said Wyden/Paul. This would also fragment the center, which would allow the left to take more of a reign.
Where I'm from, the conservatives have a majority due to left vote splitting amongst the liberals, green, and new democrats. But with such right wing fragmentation happening in the states, what really needs to happen is not a fragmentation of the left, but one of the middle IMO.
Personally, I think this would accomplish the goal, as if you had a bipartisan party with good policies, you would then have a very confused and hypocritical left (Democrats) who would then start having to actually pander to its base instead of the imagined center.