First, of course, "we" have to reinstate the draft.
Second, "we" have to define military jobs (MOS's, if you please) that are exclusively male, and possibly some that are exclusively female.
Then establish a "recruiting" target for each, in each fiscal year. Then "we" identify all 18's who meet the minimal criteria for induction, and on some random basis, select a sufficient number (+ 5%?) who will be drafted, and have a 2-year commitment.
It doesn't seem complicated to me.
Should draftees get the same compensation as volunteers? I think so.
Remember the concept of "canon fodder." In making ours an "all-volunteer" armed Forces, we have minimized the 18's and 19's who usually provide the foot soldiers that we put in harm's way. Now we don't have many of them, and many of the low-rank enlisted folks have wives and kids. Not appropriate for canon fodder.