Well, I disagree with you. Pres. Carter and a very Democrat-controlled Congress disagreed with you 30 years ago and I think they were correct. And I don't usually give Democrats much credit for anything. But they got this one right.
To paraphrase Bob Owens, in that 30 years, the only people who have truly suffered in any "crisis" of which you speak are the represented employees of the various legacy airlines. Management has done OK, airplane manufacturers have thrived and passengers have made out like bandits. So have all the bankruptcy-related suppliers like lawyers, accountants, consultants and bankers.
Check out the growth of RPMs in the last 30 years compared to the US population growth; most people with a job can afford to fly now - as often as they wish. Not so in 1978. So 299 million+ Americans have benefitted due to deregulation while fewer than a million have suffered. I'd say that's a pretty good tradeoff. Almost everyone benefits at the expense of very few. Admitedly, it's been very painful for the workers who didn't see it coming.
The current crisis? It will work itself out. Low cost providers will continue to grow and higher cost providers will either shrink or will continue to try to convince customers to pay more. Oil? Finally has climbed to reasonable levels. $10-$20/bbl prices were ridiculous and encouraged wastefullness.
In sum, the sky ain't falling. As with every industry, there's some dislocation. But eventually, you and the others who preferred the old way will retire or die.
Re-regulation? Notta chance.