The latter won't ever happen. Won't ever happen. If BYU and Boise state both make the playoff, the committee will make sure to seed us such that one of us knocks the other off as early as possible.
Best Scenario: BYU - Boise State Semi Final, BYU wins. Iowa State vs. ACC semi final. ACC Team Wins. then BYU wins the Natty with victory over ACC team (likely Miami or Clemson).
SEC and B1G don't even make the semifinal game.