NCAA Press Release for 2002-03 rules changes.

[DrakeM]

"But what if A1 is dribbling and B1 knocks it away so that A1 no longer has player control? Then A2 fouls B2 while trying to recover the loose ball. Does B2 get FTs? There's no player control, but there's still team control, right? So it seems like according to the new rule, we wouldn't shoot FTs. What does it mean for "the offense to have the ball"? Team control, or player control? Or doesn't it matter?"

Chuck,
This would be similar to a "loose ball foul."

Section XVII-(NBA RULE BOOK)
"Team Control"
A team is in control when a player is holding, dribbling or passing the ball. Team control ends when the defensive team deflects the ball or there is a field goal attempt.

According to this, there is no team control in this situation. If you're in the penalty, (bonus) Shoot the free-throws.
This would be different if A1 fumbles the ball, then holds B1 back while trying to re-gain possession. This would be an offensive foul, as team control never ended.
Drake