As a resident of WI all my life I seriously doubt that WI could support an NHL franchise. They had their chance when the Bradley Center was new and even flirted with the idea by hosting a few NHL preseason games. However Lloyd wouldn't pony up the money for an expansion fee and I don't think either Milwaukee or Madison has enough disposible income to support the price of NHL tickets. If SE WI loved hockey enough to carry an NHL franchise, the Admirals would be packing the house for every game. But even at $10 a ticket, they can't fill even the lower bowl on weekends. Jack the ticket prices to 4-5 times that amount and you'll see even fewer folks in the stands. Maybe you could draw some Northside Chicago folks who make Chicago money, but now the 'Hawks are a hot ticket again so everyone wants back on their bandwagon.
As far as Madison goes, they made several runs at minor league hockey with limited success. Any addition of pro hockey in WI would have no affect on Bucky Puck. The Badgers hockey program will always have a solid following because the of the 10s of thousands of local alumni and the ticket prices are reasonable compared to other sporting teams in the immediate area.
As much as I would love to have an NHL franchise in Brew City - It isn't going to happen. Heck look at how hard Mr Blackberry is trying to get a team. He's trying to put them in hockey starved Hamilton, ONT who would easily snatch up 20,000+ season tickets and the NHL still says no.