No, I don't know what, if anything, should be done, I honestly haven't studied it enough to know if there is a legitimate gripe with the current system.
I've read about the desire to prevent the tyranny of the majority as well as how the system was set up to enable slave owners to benefit but thats about as far as I have gone. I tend to defer to the founding fathers as they were well aware of the importance of keeping one person from ever having absolute power and it appears they may have had a similar motivation with the EC. Having said that, there's an odd dichotomy for the founding fathers in that they crafted the Bill of Rights while many of the signers were slave owners. This is a huge WTF to me, clouds their judgement imo and makes me look at why things were set up the way they were with a skeptical eye.
My point is that these fuckers play all kinds of games with the rules and then when it doesn't work out to their favor, they start crying rigged election, racism, etc yet I don't recall any effort being made by the Dems after the same thing happened in 2000. I suspect they didn't because they really don't have a problem with it, knew the rules of the game and are just pissed because they lost what they thought was a slam dunk.
From a simplistic view, I will say it doesn't seem kosher to have someone elected who ended up with less votes.
PS... I'd love to see how the Republicans would react had the situation been reversed. I seriously doubt they go gently into that good night