I believe the most important thing "We the people" could do for our federal government is get term limits. This would move government service back toward duty vs. a career/a position of entitlement. Yes, term limits have their flaws, but the fed must be changed at the core, and not around the edges. Getting a few more real conservatives into government is a step in the right direction, but this only serves to stem the tide of corruption and big government; it does not solve the issues permanently.
In my opinion, the republican party can be a weapon/tool to fix the problems, but the party and individual republicans are not the answer unto themselves.
The problem may be that on a national level the republicans have no core, no guts, and seem to be more interested in keeping their "job" which has become an entitlement. Many insist they are conservative, and then govern as democrat lite. Folks like Ron Paul and Tom Coburn are on the outside of their own party looking in.
We must rid our government and our nation of career politicians.