I've written about this before. This is perhaps the gasp of those individuals who were still upset about the defeat of former Vice President Al Gore at the polls in 2000. He won the popular vote, but wasn't enough because in this Republic the electoral votes count. Every state has an electoral vote and different rules as to how to distribute those votes. For the most part however most states have winner take all, that is whoever wins the popular vote in a particular state also wins all of those electoral votes.
This proposal however mandates that whoever wins the national popular vote will be awarded the electoral votes of a particular state. Michael Reagan argues in this clip that this will leave the smaller states without a voice in Presidential politics. One argument for the electoral college is that this will allow states a say (regardless of population that is) in who will be elected President.
What say you in the meanwhile?