2005 - 9-2 Georgia won the SEC, 2006 Arkansas made the championship game with 2 losses, 2007 winning LSU had 2 losses and their opponent Tennessee had 3 losses, 2010 So. Car had three losses (but lost), 2011 Georgia lost their first two games (and the SEC championship), 2014 Mizzou had two losses (including one to Indiana) before losing to Bama in the 'ship
That is just the SEC, you could say a 20% chance of a two loss team in the "best conference" that has had some of the more dominant teams of the last decade. We just forget it because it hasn't happened since 2007 even though there have been seven two-loss teams that have had a shot in ten year (35% of participants) - regardless of dozens of FCS schools propping up their non-conference schedules.
B1G - 2012 Wisconsin regular season finished 7-5, 2011 Wisconsin regular season 10-2, 2009 OSU went 10-2, 2008 OSU split the title with a 10-2 regular season, 2005 OSU again with a 9-2 regular season
B1G didn't have a title game for most of those years but all of those teams either won the title or split it so good chance B1G submits their Champ with 2 or more losses on the ledger at the end of the year. Not to mention their 2013 MSU champ lost to a less than impressive ND team and the 2014 OSU's loss to Va Tech should have pushed their playoff spot to a Big 12 team. Call it 40% of the time they are a two loss champ (I suspect that probability is higher now that they will play a championship game that invariably will give a shot to another team with two or more losses).
Now the PAC12 - 2014 Oregon beat 2 loss ASU, 2013 Stanford and ASU both came in with 2 losses, 2012 Stanford had 2 losses and UCLA 3, 2011 Oregon had 2 losses and UCLA was an unranked 500 team with 6 losses (finished the season with 8 losses, yikes), 2009 Oregon won with 9-2 record, 2007 USC and ASU split the title with 2 each, 2006 USC had 2 losses to Cal's 3 losses, 2005 vacated USC can suck it. - Overall, seems like over 50% chance of a two loss conference champ from here.
Too lazy to tackle the ACC right now but the probability of NO 2 loss conference champs seems a lot less than 50% to me.
I pulled this together in August for another thread.