Think that is the best option.
If you look at cricket and rugby, neither being the fastest, most free flowing game in the world, but it has enhanced the game in getting the correct decisions.
Maybe introduce a challenge system like tennis has. Win an appeal, you keep your 2, lose and you only have one left or something similar. There is so much riding on games now, more financially than anything, that I think it will be inevitable.
I also agree that referees jobs are made much harder by the players. They need to show much more respect to them. If you watch rugby at all, the ref makes a decision and they abide by it. Any verbal abuse from the players and they should be given a yellow, any more and they are sent off.