I didn't really know what I was doing but:
https://www.capfriendly.com/armchair-gm/team/756331
Notable Signings
Lindholm, Elias
6 years at $5,000,000
Hanifin, Noah
6 years at $5,500,000
van Riemsdyk, James
5 years at $6,500,000
Lehner, Robin
2 years at $4,500,000
Jankowski, Mark
2 years at $2,000,000
Kulak, Brett
1 year at $1,500,000
And bought out Brouwer (only way to fit under the cap). $858,290 remaining
For those too lazy to look:
Gaudreau - Monahan - JVR
Tkachuk - Backlund - Lindholm
Bennet - Jankowski - Frolik
Mangiapane - Lazar/Shore - Foo
Gio - Brodie
Hamonic - Hanafin
Kulak - Stone
Smith
Lehner
Does this involve overpaying free agents? Yes. But this is definitely a playoff team. There's 4 scoring lines, solid defense, and 2 capable goalies.