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Yes, it probably would mean the end of the Republican Party – at least as we know it today. What would emerge from the ashes is another whole question. As for your statement:

if they try this House picks the carefully SELECTED 3rd party candidate they would lose the senate for sure and maybe the house too.

No, because people would have voted on election day in November, not knowing who they would wake up to as President-elect the next morning. If they found out the next day that no one got an Electoral College majority the night before, their votes would already have been cast for House and Senate seats. The House vote from among the top three candidates on election day would probably not come until early January 2017, in time for inauguration day. The congressional elections would have long been over, way back in November 2016.

No matter what, it will get interestinger and interestinger as time goes on…. I don’t trust the last one of ‘em, personally.

Note: there are reports that people close to Romney are saying that he’s given up on his bid to find a 3rd party candidate. But Romney isn’t being quoted on this. In fact, The Blaze (as if that’s a highly reliable source {choke} ) seems to suggest Romney has not given up, and/or that others are still going forward hoping to fi!nd someone to run 3rd party. I would not count the move out until all the states’ ballots have been firmed up.