The Equity Deputy is a big difference as well. As I am not AEA, but involved in union productions, I understand that the elected role of an actor as the deputy is unique. This support and leadership position among the union memebers provides a check and balance to protect the actors and gives them a person to go to if they have work related concerns.
Also rules about using personal items in the show. Many college and community productions rely on the actors and technical staff to 'pitch in' and bring props/costume pieces. In Equity productions there are very detailed guidelines about compensation to actors if they have to use their own clothing/shoes/socks/etc. It is considered a rental of the actors personal property.
So, you'd be able to TRY and enforce union protocol but it would be an approximation at best.
I agree with this, as the University I attended did have a good approximation of some basic union rules. Break schedules primarily, and scheduling as well. A set of rules was signed at the begining of each show so that a sense of order was established and this was your 'contract'. We had to aquire a specific amount of hours of tech work and/or rehearsal time for a graduation requirement so if there were situations where someone was penalized, hours would be deducted from your total.
At best this was a good way to get us as students to think about the benefits that would result from a more structured rehearsal/show setting. From personal experiance it didn't help me learn equity rules, but it did make me aware of a system with rules and consequences.