I like a modified version of what Jeff Van Gundy proposed. His take:
Originally Posted by Kstat
"I think every team should have an equal chance at winning the lottery, from the best team all the way down," Van Gundy told The Houston Chronicle. "I don't want to accuse anyone of anything. I would say to take away any possible conflict of interest, everyone should have an equal chance at the top pick all the way down. That way there would be absolutely no question by anybody about anything."Found here
My preference would be all 14 lottery teams get 1 ball each. Effectively eliminates tanking and is better for parity.