I can't say for certain if this would work or not. I don't even know how all the details would be worked out. But to me the arguement of a hard cap or not, and how it relates to BRI could very well be solved by changing the way players are paid.
Instead of paying players a set dollar amount, they could be paid a percentage of the BRI, divided amongst all 30 teams evenly. As an example, a super-star, like Lebron, might get paid something like 25% of his teams BRI share. Basically as revenue rises, so do individual player salaries. The reverse would also be true. This would place the risk/reward on both parties. The biggest negiotiating point would then be what is a fair split of the BRI.
Any thoughts are welcome, just be civil. Thanks.