First, this isn't a double foul, it's a false double foul. A double foul is "a situation in which opponents commit personal fouls against each other at approximately the same time. That didnt' happen here.
But, what to do?
I agree the officials should have decided which occurred first, penalized it, then ignored the other (since the ball was dead).
OTOH, there is no provision in the rule books for a "simultaneous" personal foul, so the officials (well, technically the referee)could use 2-3. If they are going that route, I'd use the precedent of the simultaneous technicals and the double foul and just use the arrow -- no free throws.
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