This guy's been trying this since at least 2003 (presumably to bring back Clinton, not to give Bush a third term, since he is a Democrat).
Here is an interesting article about his attempt then, and about previous attempts by others:
http://www.thecarpetbaggerreport.com/archives/176.html
I agree, this would be a mistake. One of the arguments against the 22nd amendment is that Congress isn't limited, so why should the President be? I have a better solution than removing the 22nd, though - expand it to cover Congress!