Major campaign underway to nullify Electoral College

[Gabu]

If only the eleven largest states joined this pact, the required 270 electoral votes would be in their control.

You're also taking away voting power from other states.

Not exactly.  Rather, you're ceding it to the nation as a whole, because the result in those top 11 states depends on the result in the national popular vote.  It's not as if the national popular vote is some disembodied entity that exists external to any statewide result.

Also, the required 270 votes are already in the control of the top 11 states.

[Gabu]

I don't get it, there'd still be the EV but states would give it to the national winner? I bet Washington DC will love to have its EV go Republican...

The electoral college system is basically set in stone, but the way each state apportions its electoral votes is left up to each state (I believe).  Essentially, this would make the winner of the popular vote win the election - effectively changing the election of the president to a national popular vote - but it would do so in a roundabout manner using the electoral college.