Get rid of it. The reason we have it is that the founding fathers were a little scared of their democracy experiment. They wanted a safety valve so that if a stupid but charismatic person charmed the country into voting for him, while the whole establishment knew he would wreck everything, there would be a safety valve to prevent the charismatic idiot from becoming president. This is why you are not allowed to vote for President, and instead vote for Electors for a President.
There were other reasons as well, but dirty politics has brought things to the point that the other good reasons have turned into other political reasons. Part of the reason for the electoral college was to give more power to rural areas and the south. They wanted democracy, but a simple 'one man one vote' method would have led to the more populous northern cities requiring less support from rural or southern areas to get elected.
Now it's turned ridiculous. Gerrymandering is one problem, but let's skip it and look bigger. A person from Wyoming has their vote count more than a Californian's vote would, because they still get three electoral votes even though there aren't many people there. On the other hand, since Wyoming is all spread out and only worth three electors, nobody campaigns there--they campaign in California. Then add in the all-or-or nothing way that the states distribute the electors, and we naturally will only have two parties. And if you are part of the 30% of Texas that votes Democrat, then you don't even need to show up to the polls, unless you just want to prove that it isn't true that all Texans are Republicans.
Denlp: The small states are already ignored, except Iowa and New Hampshire.
One adult, one vote. Why do we complicate it?