Which takes precedence in the following scenario:

[Texas Aggie]

There's no "starting" to travel. The travel occurs or it doesn't, and if it occurs, it does so pretty much in an instant. Then, the ball is dead. Before he hits the ground, he can at least shoot, pass, or call time out and maybe he can start a dribble (depending on facts not mentioned).

If you are deeming the contact a foul, then its a foul. If not in the act of shooting, the ball becomes dead. If in the act, well, just look the rest of that up. But you're going to be shooting free throws.