The following tie-ins exist for bowls in the years they are not hosting the national semifinals:
Rose Bowl — Big Ten #1 vs. Pac-12 #1
Sugar Bowl — SEC #1 vs. Big 12 #1
Orange Bowl — ACC #1 vs. SEC #2, Big Ten #2, or Notre Dame
Cotton Bowl — at-large or “Group of Five” (committee selection)
Fiesta Bowl — at-large or “Group of Five” (committee selection)
Peach Bowl — at-large or “Group of Five” (committee selection)
Besides “blue blood” and “big names”, one of the key difference between P5 and G5 is the BIG bowls contract. Now, if AAC can make a deal with ACC and Peach Bowl and/or Pac12 and Fiesta and/or B12 and Cotton to send AAC#1 and AAC#2 to pair with Pac12#2, B12#2 and ACC#2 to the appropriate bowls, that contracts will level up AAC.
However, the issue #1 is the name. There is no big name left in the G5 besides Boise, BYU and SDSU. If we can convince 2 of those 3 to come and have a 14-team coast-to-coast AAC, we may make a deal with those bowls.
Issue #2 is TV contract, well, no big name, it is hard to get TV deals.
those are just my opinions.