The drawback with your idea, as has been said many times, if we stopped the clock for everything so you had 90 mins of Football the game would last about 2 -2.5 hours thus increasing the journey home time etc. I think a better idea is a link between the ref and the big clock in the ground...
Losing side try to keep the ball in play but the winning side look to kick it out as soon as they get the chance ie a shot that the keeper saves so a big boot to row z.
Good to see a ref call time when it is due rather than the normal wait until an attack has finished. Perhaps we should adopt the rugby idea that once the time is up the game is finished when the ball next goes out of play.