What will it take for the Republican Party to reconstitute itself as a viable opposition to Democrats through the 21st century?

This article covers just some of the problems facing the GOP now that they attempted to ride the Tea Party tiger and ended up inside the beast’s belly. Can they do what it will take to remain a viable political party given the changing demographics of America? What is it they need to do? If they can’t reform themselves or tame the tiger, will they split into what remains of the moderate, pro-business Republicans and a Tea Party inspired far-right, libertarian party that’s totally anti government? How could they survive such a split when registered Democrats already substantially outnumber registered Republicans?