I know what I'd direct. First, I'd adapt Darth Bane: Path Of Destruction and direct the hell out if it. It's about time we let Bane get the shine he deserves. If they allowed me to direct the second one, I'm changing that ending though lol.
I would do a biography of Aleister Crowley. The bonus would be Jimmy Page and other 'cool' people would want to get involved. Not only full artistic freedom, but full autistic freedom. For a follow up, it would be 'The Painter', which would be 2 hrs of some dude painting, then getting angry and destroying it. That'd get people guessing what the third would be lol.
Correction: *with complete artistic FREEDOM*.