In September 2011, Michigan should wear 1948 jerseys, including matching numbers corresponding to each position. Notre Dame should do the same, but their year should be 1949. Each won a MNC in their respective years (M's was a controversial vote with ND on top of that), and each jersey is somewhat different from today's model.
Michigan would wear long sleeved jerseys with different style numbers, and could even go back to the more yellow Maize for the numbers and pants:
Notre Dame could wear long sleeve green with gold pants, as shown in this 1950 magazine:
Michigan would require one tackle to change their historically corresponding number away from 11, but no other retired numbers were used on the 1948 roster. Notre Dame would not have to change any because they have never retired a number. Long sleeves would not be much of an issue IMO, the average A2 temperature in September is somewhere between 58-(Edit:) 72 degrees and it will be a night game.
This is the best idea I can think of to bridge the gap between the RAWK music, as JeepinBen put it, and the "Get off my lawn" crowd. To put it in terms DB would understand, I think a lot of people would buy the 1948 jersey due to color changed, long sleeves and the intangibles that get fans to buy throwbacks.