Going back to where we left off after FFNY, since Icon sucked so bad and pretty much killed the story, I'd go back and re-create it. Though i'd use Vendetta's fighting style and bring back pins, submissions, etc to make it a wrestling game again.
Plot: D-mob is put back in jail after one of his closest friends, Redman, turned on him and set him up. Out of anger, one of D-Mob's closest friends, Suge Knight, puts his own crew together to stop Redmam from further ruining the Def Jam circuit.
23 rappers per crew if you count the leaders
Suge Knight's crew:
Tupac - Unlockable
Ice T - Unlockable
Rakim - Unlockable
Kastro
Mopreme Shakur
E.D.I. Mean
Napolean
Big Syke
Rated R
Young Noble
Hussein Fatal
Ja Rule
Yukmouth
Papoose
Talib Kweli
Common
Mos Def
DMX
Kanye West
Lupe Fiasco
Method Man
T.I.
Redman's Crew:
Biggie Smalls - Unlockable
LL Cool J - Unlockable
Will Smith - Unlockable
Jay-Z
Lil' Wayne
Birdman
Ghostface Killah
Mack 10
WC
Andre 3000
Lloyd Banks
50 Cent
The Game
Busta Rhymes
Raekwon
KRS-One
Ice Cube
Dr. Dre
Sticky Fingaz
Nas
Memphis Bleek
Puffy
Soundtrack:
Tupac feat. The Outlawz - Hit Em Up
Yukmouth - This is how we ball
Nas - Hip Hop is Dead
Ice Cube - Why We Thugs
T.I. -Big Things Poppin'
Lil Wayne - I'm a Beast
Kanye West - Cant Tell Me Nothin'
Lloyd Banks - Hands Up
50 Cent & The Game - Hate it or Love it
DMX - We in Here