This is incredibly complex, and seems to mismatch what I can see covenants being used for in practice. I anticipate fees being high in future, such that people will do a reasonable amount of engineering to minimize their total footprint. In particular, they will want to add fees after commitment, and want to batch transactions using stacking.
The first case implies you want to exclude a specific input and output, to allow for fees, or at least allow binding not to cover the final input/output. The second case implies you want to mul/divide an input number to get the corresponding range of outputs.
The simplest case is a single input and output pair: a-la SIGHASH_SINGLE. This both allows almost arbitrary fee inputs/outputs, and stacking.
But what if you want to bind a pair of inputs to one output? Or a pair of outputs to one input? Both seem reasonably common things to want to do (e.g. opening a dual-funded lightning channel, and closing a channel).
That means you need to be able to select outputs as “current input index / 2” or “current input index * 2 and current input index * 2 + 1”. Numbers other than 2 are possible but this is the most likely case (since, in order to stack, all txs must be of same input-output number form, and I consider 1 and 2 by far the most likely numbers here).