Ever since the ring changed their rules, you don't have to have 1 vs 2 anymore for the ring belt. I'm not sure exactly what the guidelines are, but i think a 1 vs 3, or 2 vs 3 or even 1 vs 4 will suffice...
*EDIT: CHAMPIONSHIP POLICY - Championship vacancies can be filled in the following two ways: 1. THE RING’s Nos. 1 and 2 contenders fight one another. 2. If the Nos. 1 and 2 contenders chose not to fight one another and either of them fights No. 3, No. 4 or No. 5, the winner may be awarded THE RING belt if the Editorial Board deems the contenders worthy