My idea is as follows:
Archduke Albrecht/Philipp marries the Duchess Nicole of Lorraine, thereby to secure Lorraine to the Netherlandish provinces. At the same time, his sister, the Archduchess Maria Anna Mauritia is to be married to the Archduke Ferdinand of Inner Austria. However, Albrecht/Philipp dies the next year without heirs. Nicole is returned to Lorraine, where, after an unsuccessful play for her hand is made by Louis XIII of France (for his younger brother), she is married to her cousin and her father's eventual successor.
Mauritia is now left to marry the Austrian archduke, but since the king of Spain is the nominal overlord of the Burgundian territories, he would much rather prefer her to marry a Spanish infante, with his own daughter, Infanta Mariana marrying Mauritia's former betrothed.
After much haggling, it is decided that Mauritia is to marry the Infante Carlos, but King Felipe III of Spain dies before the marriage can take place, and since Felipe IV is led by the Count of Olivares by the nose, he is reluctant to marry his brothers off. However, he is willing to recognize any match between Mauritia and a Habsburg. Isabella Clara Eugenia in the Netherlands sets her hat at the heir-presumptive to the archduchy of Inner Austria, Archduke Ferdinand's younger brother, Leopold. The match goes through, and the king of Spain issues a decree saying that on the extinction of the heirs-male of Mauritia and Leopold, the Burgundian territories are to devolve on Spain and the Further Austrian territories Leopold brought to the match are to devolve on the main Habsburg branch.
Mauritia and Leopold have two sons - Ferdinand Albrecht and Philipp Leopold - and two daughters, Maria Leopoldina and Isabella Klara Eugenia. Leopoldina gets married to the Elector Palatine, while Isabella Klara marries the Emperor Ferdinand III (son of her mother's former betrothed). Ferdinand Albrecht succeeds his parents as *duke of Burgundy and archduke of Further Austria, and marries Eleonora Gonzaga, sister of the duke of Mantua, and great-niece of the dowager empress. Philipp Leopold enters the church, eventually becoming a Cardinal.
Eleonora Gonzaga acquits herself well for her young son during her regency, after her husband is killed in a hunting accident. She arranges matches for her two daughters to the duke of Lorraine, the Holy Roman Emperor Leopold I (son of Ferdinand III and Mariana of Spain), whilst her son is married to King Carlos II of Spain's older full sister, the Infanta Margarita (daughter of Felipe IV and his niece, Maria Anna of Austria). However, the Emperor's Burgundian wife dies after the birth of two daughters, while Carlos II's French wife remains childless. Leopold I remarries to a Neuburg princess and begets several more children who survive, whilst the question remains who will succeed childless Carlos II (his oldest, half-sister, the Queen of France; or his older, full-sister, the duchess of Burgundy).
In an attempt to solve this problem, the oldest daughter of Margarita is considered as a wife for her uncle, Carlos II, but his mother/her grandmother decides that he can't wait so long for an heir. Likewise, betrothals to the French dauphin and the king of the Romans fall by the wayside. Finally, Margarita's oldest daughter, Maria Antonia, marries the elector of Bavaria, while her younger sister, Maria Anna, marries the duke of Savoy, Victor Amadeus II. Their brother, Ferdinand, is married to the sister of the dauphin, Madame Royale. Two daughters - Marie Madeleine and Marie Elisabeth - are born of this marriage before Madame Royale dies. Ferdinand then remarries to another princess, by whom he produces the much needed son.
Madeleine is married to the duc d'Anjou,, whilst Elisabeth is to be married to Leopold I's second son. Ferdinand dies, and is succeeded by his underage son, Philippe-Ferdinand. Carlos II dies, naming the duc d'Anjou as his successor in Spain. Madeleine thereby becomes queen of Spain but there is a eight year succession war over the SPanish throne before the Treaty of Mainz is signed. Madeleine dies after producing three sons, and her widower remarries. Elisabeth produces three children by her marriage to Archduke Leopold Karl, Marie Amalie Elisabeth, and Archdukes Leopold Josef and Ferdinand Maximilian.
However, when Philippe-Ferdinand dies childless, a new round of war breaks out over the succession to the Burgundian territories. Madeleine is Philippe-Ferdinand's senior heir, but she is dead, and nobody wants to see France, which has so recently swiped Spain, swipe Burgundy as well. Thus it is decided that Archduke Leopold Karl and his wife are to be the heirs. Something the French are not happy about, resulting inthe War of the Burgundian Succession.
Finally, after three years, the Treaty of the Hague makes provision for a partition of the Burgundian territories. The duchy of Luxemburg and all territories east of the bishopric of Liege are to pass to the Austrian line, whilst the remainder of the formerly Spanish Netherlands is to pass to France.
How's that sound?