How can you answer "yes"? Seriously, did half of you misread the question?
Not only did OSU make it last year with 1 loss, but the committee ranked the lone undefeated team behind 2 different 1 loss teams. And that was when perception of the Big Ten was very low. After a successful bowl season, and a 1 loss OSU team beating the #1 and #2 seeds, I would think a 1 loss OSU would have a better shot this year, as opposed to last year.
Is a 1 loss OSU team guaranteed to make the playoff? Definitely not, but that isn't the question.