If you feel the current two-party system is flawed, what do you think needs to be done to address it? if you don’t think it is flawed, why do you feel it is working well?

Well, personally I think that it is flawed: it limits the inflow of new ideas into politics.
I think that one way to address it is to abolish the electoral college and introduce country-wide representative elections and not a "winner takes it all" system.