Giving Dak a nonexclusive franchise tag and hoping to receive 2 1st rounders isn't ideal. Dak would most likely sign with a team like the Saints (28th overall pick) or Colts (21st overall pick). Both teams would make the playoffs again with Dak so the 2022 1st rounder won't be high either. Obviously letting Dak play out another year on the franchise tag would make it impossible to tag him the following season. The Cowboys would risk losing him without getting back any draft picks (other than a measly compensatory 3rd round pick). I would try to negotiate a sign and trade with Dak. I think including his best friend Zeke would be attractive for Dak (although the team trading for him wouldn't be thrilled but it's the price you pay for getting Dak. Example Antonio Brown to the Bucs because of Brady). Gallup is a stud but only has 1 year left on his rookie deal so throwing him in would be tough but might be necessary. The options for Dak in my order of preference:
1. Sign and Trade using the exclusive franchise tag. Include Zeke and Gallup to appease Dak and the Cowboys can save money.
2. Give Dak the nonexclusive franchise tag and get 2 1st round picks (most likely late 1st round picks)
3. Re-sign Dak to a long term contract.
4. Let Dak walk after playing under the franchise tag for 1 more season. The Cowboys would only get a compensatory 3rd round pick.
A couple of things.
I do think we lose Dak if we give him the non-exclusive tag. Colts would definitely be a challenger for his services, but Saints are in salary cap hell. I figure Dallas could match any offer he received from them. Teams to watch would be Colts, Jets, and WFT. Those teams need QBs and are among the most cap space available. Colts would be bad, and while I would hate for him to go to WFT, if he signed there or Jets, then at least draft capital would be decent in return. Broncos and Panthers would be two other teams I would look to move on him.
There would be suitors for certain, but Dallas could compete with a number of those in offer.
Tagging Dak and then trading him, would be difficult. He would first have to sign the tag. I don't think it is necessary or feasible to include Zeke or Gallup. Seriously, what kind of haul would we expect to give up Dak, take the cap hit on Zeke, and lose Gallup? I don't think it would be necessary to include those. What would be required is the trade would have to be a team Dak wants to go to and that team would have to be given permission to negotiate a contract with Dak, so in essence a team willing to pay him. Teams that might be interested are the teams listed above. Those teams have the cap space and need.
Honestly, I think the tag and trade is the longest of shots. I think an extension with Dak is the most likely, followed by him playing on the tag without an extension. I do not believe we offer non-exclusive. If we didn't go that route last year, it is even less likely this year, though I would not be opposed to it due to the number of teams who I think outbid us.
A tag and trade is very unlikely. The only situation where I can see it being likely is with Seattle. If the Seahawks decide to move on from Wilson, I could see both them being willing to pay Dak and Dak being willing to play there and sign the tag to fascilitate that happening.