The answer to O'Hare's problems is simple ... BUILD MORE RUNWAYS. They need runways and terminal capacity there and they need them badly. A third airport is a STUPID idea ... nobody will use it. AA and UA are sure not going to relocate their hubs to Peotone (halfway to friggin' St. Louis) or Gary (have Kevlar vest, will travel). I hate to say I agree with Dictator Daley on anything, but the O'Hare Modernization Plan as proposed is the best hope of making things better at ORD. Having runways that are actually parallel and would keep a 100+ AAR all the way down to 200-1/2 is the only thing that will ever make that airport work well.
They need to start moving dirt NOW or things will only get worse. Expanding O'Hare is the only VIABLE plan to solve the problems. Peotone or Gary are useless ideas (hell, Peotone is a cornfield now, and 50 miles from downtown), and Midway is full.
But what do I know ... I'm just the birdman ...