I know his father would counsel him against it, but I'd like to see Rand Paul become an independent, then begin researching developing a viable party that places limiting government power at the center of its purpose for existing.
The Republican Party's status quo power elite have resisted the limited government movement started by a faction of the Tea Party, and now the Centrists/Statists control the party without doubt. After the 2010 historic elections which for the first time in a long time placed libertarian principles in the public square, the Centrists looked for the right opportunity to completely marginalize the limited government faction (LGF). The 2012 election in which Obama beat Romney was the excuse they needed to attack the LFG.
It's obvious now that if there is to be an opposition party to the Democratic Party, it will have to be a party other than the GOP. The Libertarian Party could fill this role, if they can put a viable party together that attracts a broad range of voters. This will entail a better explanation of libertarianism than is currently offered by media. The problem with the Libertarian Party is that many people who support classical liberal principles don't see themselves as libertarians. Limited government conservatives are not likely to join the Libertarian Party. Maybe liberals who finally have realized the dangers of statism would join the Libertarian Party, but it wouldn't be an easy transition -- both groups would likely feel they have to change something about their political identity, so a viable party would have to have a more inclusive name.
I see several core principles that this third party can coalesce around -- limited government, free market and non-intervention in foreign affairs, with the condition that our defense systems remain superior. I have to believe there are enough Americans who are completely sick, like I am, of both parties and of government interventions that are killing our economy, and foreign policies that are killing soldiers for bogus political reasons. A party based on these three principles would be a party I can support and believe in with passion. There are many nuances attached to these principles, but a political philosophy can be developed that's easy to understand based on how this government would look in reality if the party accomplished a revolution that rolls back the statist takeover that has placed the country in serious debt and stalled economic activity to the point of malaise and possible collapse if the last straw comes along-- it would be smaller, efficient, capable and subservient to the American people.