Two thoughts: other carriers have had to wait 5-6 years to get a contract, so 2-3 doesn't mean anything. As for the company dithering, they will do that for a while, and then put something meaningful enough on the table that the mediator has back down...for a while.

Alter ego operation: it could happen. GoJet and Freedom were just that. I'm not saying it would be easy, but it would be much easier than getting pilots to cross an actual picket line.