Olympics aside the NHL is never going to go out of its way altering its schedule to accommodate the IIHF. However, there is room for compromise here. The NHL starts its season in October. Now regardless of the WHC's, many people over here have always thought it would make more sense to start in September. September is a cooler month, and it will take the playoffs out of June, a summer month. You still need to understand though, simply aligning the schedules to match won't release the full NHL rosters to the WHC. The players over here still play the most grueling schedule in the league, and the playoffs are especially punishing. I'd say the final 8 are still off limits, and you'll still have guys turning it down. But you can start building your roster from 22 NHL teams rather than 14, and have a bit more time to prepare.
So for my ideal compromised international format:
1. The NHL adopts an earlier schedule to align with the WHC's in Europe, giving them its support and abiding by IIHF authority.
2. In return, the IIHF gives the NHL its support to host the World Cup which will occur every 4 years, either in place of the WHC in the spring, or let that run without interrupting and have the WC in the Fall. Participating players can report to national team training camps instead of their NHL/European teams. IIHF rankings will be used to determine placements, has a say in # of teams, and profits are split, but otherwise the NHL call the shots.
Overall that would seem pretty fair to me...