If this happens, this will be a 1964 style landslide, with Republicans losing the Senate and the House.
It would be a 1964 style landslide on the presidential level, but why would it entail the Republicans losing congress? I imagine both Trump voters and Pubs voting for Kristol's neocon will both vote for Pubs downballot.
It would mean the party tearing itself apart, with Republicans staying home en masse because the outcome of the election would be predetermined. Republicans can't possibly be that stupid, can they?
Never underestimate the stupidity of the party that gave us Sarah Palin, Michele Bachmann, Steve King, Louie Gohmert, etc. etc.
I don't see it happening, either. The protest vote was already going to go for Johnson/Libertarians, and I wouldn't think it would be nearly as substantial to be a spoiler. Then again, if the establishment thinks that Trump is going to lose anyway, they may feel as though they have nothing to lose by running another candidate if they really think that Hillary is going to win regardless.