[greymule]

I'll take a stab at it, assuming NCAA would treat this situation the same as OBR.

Even though it was a suicide squeeze, the batter did not interfere with an attempt by F2 to tag the runner. (In that case, with less than 2 out, runner out; with 2 out, batter out.) In the OP, I would call "time" as soon as F2's throw did not directly result in an out on the runner. I would call the batter out and return the runner to 3B.

I don't see how you could get 2 outs on the play.