It doesn't work that way.
Title IX compliance is, at least partially, judged based on the number of athletic opportunities (essentially, unduplicated roster spots - so an XC/indoor track/outdoor track athlete counts once, not three times) per gender, not by number of teams. The U.S. Department of Education will use a three-pronged test when measuring compliance in creating equal opportunities for athletes of both genders.
An institution is in compliance with the three-part test if it meets any one of the following parts of the test:
(1) The number of male and female athletes is substantially proportionate to their respective enrollments; or
(2) The institution has a history and continuing practice of expanding participation opportunities responsive to the developing interests and abilities of the underrepresented sex; or
(3) The institution is fully and effectively accommodating the interests and abilities of the underrepresented sex.
Source: Intercollegiate Athletics Policy: Three-Part Test -- Part Three Q's & A's
According the the USDoE's Equity in Athletics Data Analysis website, Lindenwood has an enrollment of 2,760 males and 3,195 females, for a total of 5,955 students split 46.3%/53.7% Male/Female. Thus, in theory, approximately 46% of the schools athletic opportunities should be afforded to male students.
But guess what? Of the 1,183 athletic opportunities at Lindenwood, 697 (58.9%) of them are for men. 486 (41.1%) are for women. So Lindenwood fails prong one.
Source for all Data: Equity in Athletics (you'll need to search for Lindenwood University)
By adding women's hockey fairly recently, they can make a case that they satisfy prong two, but as the addition of women's hockey as a varsity program becomes more distant, that case becomes harder to make.
As for the third prong, if there are women's club sports that have tried to gain varsity status and been denied while the school's opportunity count is so skewed, well, LU had better hope they don't get sued.
Basically, Lindenwood needs to create whole lot more athletic opportunities (on the order of 11% more) for women before adding another men's athletic program. They could also drop men's sports to bring the numbers closer to being representative of the approximate gender split of the student body.
If LU were to just "rubber stamp it," as Zombo said, they'd be inviting a lawsuit that won't end well for them.