Flags for basketball

[Simbio]

I'm a football official and I was discussing basketball with some basketball officials and a thought came to my mind that I just thought I'd throw out there and see what you have to say about it. I'm sure some may have already thought of it anyway.

What if there were flags in basketball like there are in football? How would that change the game? Would it even be possible to do so? I suppose the only way you could do it is if you made it so that you had 4 tries (or plays) to make a basket.

I know this is kinda off the wall, but any thoughts?