I think part of the reason why American propaganda is so powerful is because most people only speak English as a second language. That way they are extra vulnerable for misinformation since they only get the American perspective. And since they can't speak other foreign languages they don't get the other perspective.
I don't think this is realistic at all. Doing so would require global coordination and agreement which would be difficult as each country would want their own language to be the world language.
I do not think people outside U.S. are reading much NYT or CNN propaganda. CIA has always worked to have local language propaganda. Look at how VoA was/is promoting Russian language propaganda in the USSR/RF.
I'm not talking about full abolition of English as a global language, just that other languages should have a bigger role compared to now.
Your second point is a good one, though.