Tldr: profits should be split 50/50. 50% for employer and 50% evenly spread between employees every quarter.
I think about it a lot and there doesn't seem to be a perfect solution.
My new thoughts make it seem kind of simple. Maybe it's already a fully thought out option?
What I would do is make profit margins of products public and must be reported. So if apple wants to make a iphone well they need to post a breakdown of cost including labor and profit on the iPhone.
After costs to manufacture etc the remaining profits should be split 50% for apple and 50% goes back to employees in the form of a bonus. Evenly split between all employees. The percentage obviously can be negotiated on what the company needs to operate and what would be fair to the employee. Granted you need a union or third person that holds the employees interest at heart and unfortunately can't rely on the government for that..