Miami's loss means the ACC Championship game loser is out of the CFP (and therefore in the Orange Bowl). Notre Dame's loss means they likely won't make a New Year's Six bowl, putting them in the ACC's bowl selection process. Even though they're going to lose - as they do in big bowls - the Irish are probably selected first available because of the fanbase's ability to fill a stadium and garner TV ratings. VT would probably be the next team picked, with a full game better record than the next-closest (NC State) and a bigger national brand for the ticket/TV ad sales.
If Wisconsin, Ohio State, and Penn State make the CFP, Rose Bowl (they're locked into those two) and also the Orange bowl (a possibility, though I'm not sure how likely - Ohio State winning the conference championship game likely knocks the conference out of the CFP and therefore Penn State out of a second New Year's Six bowl, whereas Wisconsin winning the conference championship game might be a big enough hit to knock Ohio State out of the New Year's Six while Penn State goes to the Rose Bowl), the ACC will have a team in the Citrus Bowl because that's the ropes of taking on a Big Ten team in the Orange. Otherwise (what I think is most likely) it will send its top non-Clemson/Miami team to the Camping World Bowl in Orlando.
The next three teams go to some combination of Belk Bowl (Charlotte), Sun Bowl (El Paso), Pinstripe Bowl (NYC), and Music City (Nashville) OR Taxslayer (Jacksonville). They're technically all on even footing, so they can pick any ACC team they want as long as that school's willing to strike a deal to head to that game. I would be pretty surprised if VT went to the Sun Bowl, but the rest of them are all pretty reasonable.
You have recruiting implications in each (least of those in New York or Nashville, but still a bit), pretty decent "vacation" reward for the players in pretty much just Jacksonville this time of year, get in front of decent stadium crowds in most, and the biggest TV crowds in TaxSlayer and Music City. All that leads me to believe that VT goes to Jacksonville if they have the opportunity, but it remains to be seen if they'll get that first choice. (Of course, if the Camping World has an ACC slot available and doesn't take Notre Dame, VT would jump all over that).
