Do it. Soccer needs a governing body, but that need not be FIFA. One country/one vote sounds idealistic, but it's been twisted beyond any semblance of reason.

UEFA and CONMEBOL leaving would cut FIFA off at the knees. US, Mexico, Japan, South Korea, and any other number of halfway desirable and less-corrupt FAs would also happily jump ship to play against Europe and South America. The rest would reorganize to apply ASAP. Set up a weighted voting system that, yes, accommodates commercialism and favors "larger" countries, but can also resist raw bribery and take the long view and not kill the golden goose. Money has invaded the game and did so a long time ago. You can't get it out. Pretending otherwise leaves gaps in the system that are worse than any well-managed ball-sport league in the world.