The equal time rule doesn't work as it is. Basically all it covers is 'face time', and the effect is that there is no 'face time'. You don't see a candidate just hold a press conference and be on the air, because the network would be required to provide equal access.
What you see is networks with a preference that invite supporters of candidate A on their news talk shows to discuss the 'scandals plaguing candidate B' (or vice versa), since equal time only applies to the candidates not their surrogates.
You see candidates clipped to the 'newsworthy' sound bite, which will be either a favorable or unfavorable edit as determined by the network's orientation.
Allowing controls on access in the fluid environment of the internet will no doubt create even greater opportunities for abuse.