It's not such a stretch, is it? After all, we used to own much of that land in the first place. It was only a loan gone awry, so it's time we start reclaiming.
The problem is that we'd need someone a bit more charismatic as our leader to secure the deal. Would you abandon your Apple Pie heritage to join his Dodge Ball team? I wouldn't and I live here! That's a problem with the Canadian political system: we have a general disdain for everyone actively involved, but once they retire, respect begins to grow (or fester).
I think it has something to do with our national obsession with Heritage Moments. We prefer to look back fondly rather than appreciate currently (but we do also enjoy speculating cynically).
With that wee bit of historical real estate settled, I'd then give the natives New York state. It would amuse me greatly to see New York renamed to New Kahnewake.
The more I think about it, the more I think we need a King rather than a prime-minister.