I'd decentralize even further, and allow for non-government gun control (in businesses, gated communities or neighborhoods, shopping districts, etc -- anywhere a person or group of people decide on such unanimously). "No gun zones" are notoriously counter-productive, of course, but I can see a shopping district, say, deciding to ban fully automatic weapons or mortars. Not that I expect that would actually accomplish anything, but it would be their decision, not mine.

Government is the wrong tool for "protecting us from our own rights" because once you give government the power for "reasonable" restrictions, the definition of reasonable eventually becomes "total."