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I know Colgan can be painful ride sometimes, but hang in there; there's no reason that you can't go from Captain at Colgan directly to a major.
IMHO, the RJ bubble has burst... Loads are way up, the majors are dying for gate and ramp space, and contracts with RJ operators are being renegotiated by the majors.
If you leave Colgan before the contract is up, you'll owe them serious cash; if you leave after the contract, you're probably less than a year from upgrading.
I have no dog in this fight - I left CJC a little over a year ago for greener pastures. I just know that you'll open a lot more doors with 121 Captain time than without.
good words of advice! Stick it out and make your mark for the long run. After all 5 years is not that long to play at CJC to get 20 years in the majors.