Is the electoral college logically consistent with the principle stated in the Declaration of Independence that all men are created equal?

Not really. The electoral college was designed to get around 'equal representation'. It was a compromise made to give smaller states proportionately more power because when the Constitution was framed the smaller states were afraid of the bigger states. But equal representation in the Senate regardless of the size of states was also part of that same compromise, as well as the provision that every state would have at least one member in the House, regardless of size.

Most of the smaller states (in population) today are red states, so it's a little disingenuous for Republicans to complain that the Electoral College cheats them. Anyway, to abolish the EC would require a Constitutional amendment, which must be approved by 2/3 of the states, meaning some of these smaller states would be voting to give up some of their power. And that's not going to happen.

More so than the Senate. The Constitution trumps the Declaration of Independence. The people get equal representation in the House; the states get equal representation in the Senate; and for the Presidency we get a blend of the two.

No, they are bound by law to caste the their first ( and only their first ) vote for the man they represent.