Everyone agrees that the American voting system has flaws. Not everyone agrees on what should to be done to improve it.
One idea growing in popularity is switching to a ranked voting system called Instant Runoff Voting.

http://www.fairvote.org/
This would enable people to vote their conscience, while still casting their vote for an electable leader. I think the result would be the evolution of a third party that would keep the major ones in check and enable the election of leaders that better represent the wishes of the American people.

Some would argue that a change may create a downward spiral into a multiparty system in which nothing ever gets done (though some would argue that hardly anything positive gets done within the current system). I don’t think this is the case, as we can just look into the histories of the multiple municipalities that have already adopted this voting system. In fact, I think this system would actually facilitate cooperation between candidates/parties with similar political leanings as their clustering together at the top of the list would improve the chances of one of them winning. We only need to look to the basis of selfish vs altruistic behavior in animals to understand why this would be so.