I'm not sure that trying to cram everyone (cars, buses, bicycles) onto the same streets is the best idea.

I assume that most cities would like to see more bike and bus commuters, with minimal traffic complications. The leap-frogging situation you mentioned would only get worse with more bicyclists and buses, though. I guess that explains why you're asking us, huh? But, without an absolutely rock solid solution, I say let bicyclists an alternate route that they will want to take (few stop signs in the main direction of travel, wide bike lanes, decent street surfaces, mild grades, etc).