This Seattle Times opinion piece spells out an extra-constitutional way to bring about the "majority rules" idea that so many seem to have such a penchant for, but it also spells out some of the pitfalls. Here's the primary reason to keep the college as it now exists:
It is no accident that the Founders chose to elect the president by counting votes in the states, since they wanted to emphasize that this is a federal republic with sovereignty shared between the states and Washington.
Folks, we do not live in a democracy. We live in a federal republic. And I want to keep it that way.
Get rid of the Electoral College and you may as well get rid of the Senate as well.