If the US and NATO are sincere in their desire to make sure Ukraine can determine its own fate, there is a historical precedent that can serve as a model for preserving independence and peace for Ukraine.
The Austrian State Treaty of 1955, which allowed Austria to become an independent state and not be divided or occupied like Germany after World War II, was crafted on the idea of Neutrality. Even Secretary of State John Foster Dulles, who initially objected to the idea, came ‘round and saw it could resolve the situation. Both the Soviets and the western allies promised to give Austria the right to govern itself and all agreed to remove their military presence. This was an extraordinary reversal of the Soviet pledge to not give up an inch of soil from land they had occupied after the War. For its part, Austria agreed not to officially align itself with either side by treaty.
A neutral Ukraine would allow it to parley with both the West and East and be free of invasion worries. A stable country could work out its differences in order to promote economic progress. The breadbasket of Europe, as Ukraine was known, could concentrate on its economic woes and in improving the well-being of its citizens. Both Russia and the West save face. Each can claim it was their steadfastness that allowed the outcome to happen.