It wouldn't take much to redo this occurrence, as really I'm only pondering what would happen if a consequence of the match had been different.
This episode of Main Event was basically a lead-in for WrestleMania IV. The Championship went to nobody, and this in-turn setup an opportunity for Randy Savage to become the WWF Champion by defeating Ted DiBiase in the finals of that tournament.
I imagine that we don't get the Earl/Dave Hebner spot at The Main Event. That match simply ends with the controversy of Ted being awarded a belt that was surrendered to him, and Jack Tunney interrupting the moment saying that the title cannot be surrendered and that the title is now in limbo. The tournament at WrestleMania IV is simply a means of determining who will be the number 1 contender for the WWF Championship, which ends with Macho Man defeating Andre. The main event of WrestleMania IV is instead Hulk Hogan vs Ted DiBiase, where Ted DiBiase is not allowed to have any of his employees at ringside. Macho Man guards the entryway, and manages to fight off a few of Million Dallor Man's lackeys. Dave Hebner is the referee, and Ted eventually manages to get a fast-count pin on Hogan. Earl Hebner rushes to the ring and shenanigans ensue, until Dave kicks Earl out of the ring and has a hundred dollar bill fall from his pocket. Hogan throws Dave out of the ring, and eventually Earl makes it back into the ring. Jack Tunney comes out and announces that the match will continue. Hogan obliterates Ted, but when he attempts to pin Ted after the leg drop, Earl acts as if he has something in his eye. Randy goes to check on Earl, and is pepper sprayed by Earl. Virgil rushes to the ring, and hits Hogan over the head with the million dollar championship. Ted manages to roll over and pin Hogan. Ted's employees rush to the ring and hoist him on their shoulders, accompanied by both Hebners.
Summerslam goes on as planned with a few tweaks to the storylines prior. Andre feuds with Randy Savage, and their feud eventually boils over to where The Mega-Bucks vs The The Mega-Powers match has Randy's shot at the World Championship at stake. Elizabeth influences the finish in the same way, and Randy's shot at the World Championship is left intact.
The Survivor Series Main event becomes The Mega-Powers vs The Mega-Bucks with higher stakes. It's announced that Randy Savage, as sole captain of the team, will be awarded the WWF Championship if his team wins. This match is Randy's shot at the WWF Championship. Jesse Ventura is again tasked to be the referee. Ted's team now consists of Akeem, Big Boss Man, Haku, and Andre the Giant. Savage's team now consists of Hogan, Jake Roberts, Hercules, and Jim Duggan. Andre and Hogan start, and go after each other in the same manner as had originally happened at WrestleMania IV, causing Jesse Ventura to disqualify both men. Jake Roberts is next eliminated by Akeem, but Akeem is chased to the back with Damien and thus is counted out. Haku eliminates Hercules and Jim Duggan, and is then eliminated by Randy Savage. Randy Savage goes to war with Big Boss Man, and Elizabeth is hurt during the melee. Randy pins Big Boss Man, and is forced to fight a fresh Million Dollar Man. Hogan comes to the ring to help Elizabeth, and Ted DiBiase locks in the Million Dollar Dream while Randy is distracted. Randy manages to pull Ted to the corner, and kicks off of it to fall back and pin Ted DiBiase.
Randy Savage becomes the WWF Champion, and begins his feud as originally scheduled with Hogan over the belt. Ted DiBiase was allowed, by this chain of events, to have conducted numerous promos and vignettes where he brags that he bought the belt and that nobody had a price for him.