A handful of exceptions do exist to the First Amendment, but free speech absolutists tend to be skeptical of the comparison you make in your post, because historically there have been some serious legal wrongs performed in the name of said crowded theater.
A) Government. Some years liberals will supress conservatives, when the power is switch conservatives will supress back. The whole concept of free speech was specifically designed to not have the government dictate what you can say or not say.
B) The press. Which one, CNN or Fox News? The trust on the media is an all-time low and they clearly have earned that reputation.
C) The judicial system? Again, most of them are appointed by the government.
D) Tech lords. I really hope no one is advocating for this.
I am not American, I wish to live in a country where I can criticize anyone, even the President, without fear of getting arrested for a bogus claim of defimation. Is sad to see that most Americans don't value their own freedoms.
IANAL, but we already have laws against libel, slander, and defamation.
Section 230 / communications decency could be modified. New laws could be created to prevent amplified spread of factually incorrect information. Freedom of speech doesn't mean freedom to broadcast that speech.
I'm not advocating for this, but I see it as a possibility.