Again, Schultz is a RFA and is only a 2nd pair guy at this point. If he was a UFA, he'd get a lot more money, but as a RFA, he won't have that much leverage. I really struggle seeing him get over $4 million on a long term deal. If he's expecting something like $5 million+, I'd just let someone else sign him to an offer sheet and take the 1st and 3rd in exchange for him.
You're acting like top 4 RFA defensemen do not get paid. They do. Or that PIT holds all the cards. They don't. They still need to get Schultz to agree to a contract (or risk going to arbitration). And the only way I see him signing something longer than 1 year is by Pittsburgh paying him a lot more than 3.5-4m.
Looking around, trying to find RFA comparables that signed contracts that did not buy FA years isn't easy (if things went to arbitration). But the moment you start talking 2+ years, you can throw those out the door.
Capfriendly has an interesting tool called "comparables" that I just came across today. If you input Tyson Barrie into it, kicks out a bunch of names. Not all apply (like Jones or Savard), but several do. And if Schultz keeps up his production on the season he's having, they'll likely apply to him as well.
Krug: 4x5.25m
Barrie: 4x5.5m
Spurgeon: 4x5.18m
Vatanen: 4x4.87m
Shattenkirk: 4x4.25m (the lowest on the list and signed 4 years ago)
Hell even Del Zotto was able to translate a 40pt pace season (33pts in 63 games) into a 2x3.875m contract. And that was 2 years ago. Stone just last year got 4m on a 1 year contract after putting up 6g/36pts. Do you really think if Schultz almost doubles that, that he'll take the same (or less) and term?!
Do I think that Justin Schultz will swing for the fences to max out the contract he earns? No, not at all. But neither do I think he'll take the kind of discount you're suggesting and take term. If you're thinking (or wanting) him to sign a contract with some term, I think you need to raise your expectations. Think at least 4.5m; and even then he'd be giving us a discount.