I understand the frustration cyclists have with auto traffic, but we've seen a million times that harsher penalties don't always have the intended outcome. And we have a habit in the US of using prison as the answer for every malady.
Instead, I think the answer is better road design, separating cars and cyclists using dedicated lanes, and automated vehicles.
Also, according to this report, pedestrian fatalities are also on a long-term downward trend, even without correcting for increased traffic: http://www.fhwa.dot.gov/publications/research/safety/pedbike...