I would suggest a few of policy changes that would encourage market responses to the problem.
1. To encourage more efficient use of slots, landing fees should be changed so that the smaller the aircraft, the higher the landing fee.
2. Landing fees for flights to multi-flight cities should increase for each additional flight offered. In other words, the landing fees for, say, CO's eighth flight of the day to ORD should be higher than the fees for the seventh flight.
2. To allow consumers to make more efficient choices, when purchasing tickets airlines should be required to report to passengers the on-time rate for their flights. Maybe a little good old fashioned shame will encourage some changes.