Clock Malfunction interpretation

[Refneck]

How would you have handled this situation?

NCAA rules in effect, no replay equipment present:

Team A is shooting the front-end of a 1 and 1 with 4.2 seconds remaining on the clock. The shot is missed and Team B rebounds the ball, goes the length of the floor and scores a lay-up. However, the clock never starts on the rebound due to malfunction.

Since neither official can definitely tell whether the try was successful before the horn should have sounded, what should you do? Remember, no replays are available.

NCAA Rule 2-12 art. 14 says, "When an obvious error by the official timer has occurred because of the failure to start or stop the game clock properly, the error may be corrected only when the referee has definite information relative to the time involved."

Does this mean, count the bucket and give Team A the ball with the same 4.2 seconds, OR, give Team B the ball out of bounds closest to the spot of the rebound with 4.2 seconds thus not counting the lay-up they should have scored?

Since my partner and I only had DEFINITE information that Team B had rebounded the ball with 4.2 seconds, we chose the latter scenario.

What would you have done???