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I doubt that we'll have more than two STRONG political parties. In a parliamentary system it can work, where parties can group together to form a coalition government. In our system however, such a split would only make two weak parties which would be unable to overcome whichever party did not split. Much in the way third party candidates for president weaken one candidate (check out Ross Perot for a good example). In 1980 John Anderson didn't keep Ronald Reagan out of office, but it was a concern among many.
I think we're stuck with a two party system.