hahah that WOULD be a good idea except you won't find a popular station that will host it, because then they'll get bombarded by angry phone calls from parents who claim their kids are being subjected to extreme violence and bloodshed and adult themes...
tis a shame really, because I'm sure if it were an anime and shown in another country (ie, Japan), that censorship crap would be less strict.
The 90s animated series is the best that we've gotten so far.
that's too much but they could cut it down to:
mongul destroys Coast City (no Death and Return of Superman), Hal goes insane and the events of Emerald twilight/ New Dawn occur. Kyle encounters Major Force and Sinestro, maybe even Traitor. Then Parallax threatens to eestroy the universe. Kyle is whupped but becomes Ion. He defeats Hal but then sacrifces his power to reform the Corps.