I looked into it, I think he has 3 more seasons until he becomes a UFA. If that's true, you don't really want to do a 3 year contract, because that gives away a position of strength for the next contract, or if you decide to trade him, that gives the contract more value...You'll likely only see a 1,2 or 4+ year deal this offseason. Plus, Frost isn't arbitration eligible this year, so he's basically at the mercy of the team...The only thing he could do is hold out, which would be dumb from his point of view.
It's no secret I think Frost is a very good player, and there's more to extract from him. I think you run the risk of having to pay a premium if you bridge him. Given appropriate usage, he's been a relatively consistent 50-point player for the last 50ish games. Give him Cate's usage from earlier (between TK and Farabee for 40+ games), and you'll see increase in point production.