I am glad you talked about this. Missing the free throw with that little time left is the correct play. By the time the team that is behind secures the rebound the only thing they have time for is a full-court heave.I actually agree with missing the free throw here... the odds of getting a full-court pass where the clock doesn't run to hit a 3 is much greater than a one-handed heave from full court. Time & score, though, when Duke did it against Butler in the title game, there was 3.6 left, and Hayward almost had it.
That said, if your players aren't trained in the situation enough to not run up to the shooter, then you're not capable of pulling if off.
Fouling a guy 85 feet from the basket is, uh, suboptimal.