He needs to stop being a one trick pony if he wants to still be relevant at the top. If his wrestling is so great he should take guys down and beat them up and wear on them when they are getting the better of him standing. No ones flash KOing him if they are on their back.....
Aint gonna happen. At best, Chuck will add to his striking, perhaps by working on stand up defense in the area of footwork. Not sure he really has GnP in him. That would be cool, though, if he came back as GSP. But that kind of game takes years to develop. Perfecting what he does is his best bet. He does need to add kicks a little more often. He needs better defense. I think years he actually liked getting hit. That just won't fly these days.
But I actually still believe his stand up is sufficient enough to handle anyone in the UFC (except maybe Loyoto).