upnorthkid
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Each school is an individual institution.
If the Big Ten and the SEC said, "Hey, we don't want to associate with the NCAA any longer", and pull their 28 schools out, my assumption is that they can.
They could say, we're going to have our own SEC / Big Ten Championship tournament for basketball, game for football, and have our golf, tennis, rowing teams etc compete against each other.
only setting in which that could somehow magically work is if you axed all non-revenue sports and found a way to make it so people cared enough to watch the sports you were offering. SEC/Big10 bball matchups don't intrigue me and the travel would be asinine. Football would maybe be fun but you're going to run into the same logistical issue in that no one will want to travel for those games outside of the conference and the NCAA will prohibit you from scheduling local teams which will lead to a revenue nightmare and increased costs.