No, it doesn't.
Think about what you are saying. You would have an executive that 2 or 3 states could almost hand pick every time, whether they be a D or a R. They would probably not even end up being a D or R but, a pawn for those 2 or 3 states. They could veto any legislation outside of those 2 or 3 states. They could funnel immense amounts of money and power to those two or 3 states. Natural disaster hits your state? Sorry, we need that money in these two or three states.
it would literally, at some point, bust the union of states apart.