This question was thrown out rhetorically in the mid day review, but it is an interesting thought.
1) ALL guns must be chipped.
2) Possession of an unchipped gun is illegal and will result in confiscation and felony prosecution. Confiscated unchipped firearms are destroyed.
3) No grandfathering. The chips are cheap, and can be designed to fit any firearm. Chipping would be free at any police department. Police would NOT run any checks on the gun or owner. Chipping is a "no questions asked" procedure. The chip would NOT provide any information other than "Yes, a firearm is present"
4) Before anyone asks, yes, I know that chipping guns would not solve all the problems as criminals would use unchipped ones. I address this in my next points
5) Committing ANY felony while possessing an unchipped firearm would add an automatic 20 years (no parole possible) per weapon found in your possession to any criminal conviction.
6) Gun manufacturers would be required imbed chips in all weapons made, whether for domestic or foreign sale. Military and police weapons are excluded, but see #5 above. Police and soldiers MUST be acting in their official capacity to use an unchipped firearm.
7) A 2 year grace period would be in effect to allow people to comply with the law. The grace period excludes violations when a crime has been committed. You can't hold up a convenience score and avoid the extra penalty under the grace period.
8) Unchipped firearms would be illegal to import or export.
9) The U.S. would introduce a treaty in the U.N. to add this requirement to ALL firearm manufacturers world-wide. Non-signers would not be allowed to sell ANY weapon system or munition to any signatory nation.
10) States could then decide what areas would be "gun free zones" and place sensors accordingly.
To my eye, this doesn't violate anyone's rights. Conceal/Carry is still possible as long as you stay out of places you are not allowed to carry a firearm (gun free zones). No personal information is being collected, and the guns are not being "registered" (not that the nut jobs will believe this).
As time goes by, the number of illegal unchipped weapons will decline until only a fraction exist. Arms dealers (Colt, Smith & Weapon, Glock, etc) should actually love it, since the destruction of unchipped weapons will provide them with new sales.