Team A and Team B have a held ball. At the time of the call, Team A has the
possession arrow. When the call is made the Team A coach goes crazy and the
official calls a techical foul against the coach. Team B is awarded two
free throws and the ball. What happens to the arrow? Thanks in advance.

Nothing. The arrow doesn't move until the team awarded possession via the AP throws the ball onto the court (or commits a violation prior to the ball being thrown in; and one or two other minor deals related to the throw in specifically). If you don't administer the throw in due to other events like you mentioned, nothing happens to the arrow.