Two factor authentication: we're doing it in 2014. TOTP, so you'll be able to use Google Authenticator or Authy or whatever else you want. Ten fallback codes too. Right now, no plans to provide a flow that removes, resets, etc. it because let's be honest, you're not logging in to the quals site very often. Ten one-time fallback codes should be enough for anyone.
Going through the lost password flow also won't clobber your token, so if your email gets hacked they won't be able to get into your CTF quals progress.