Old Dominion (2-0) led by 10 early in the second half, but Richmond fought back to take the lead on Terry Allen's 3-pointer with just under six minutes left. Ross followed with a jumper, Trey Freeman hit a layup, and Baker's 3-pointer made it 60-53 with 1:10 remaining.
Freeman hit two late free throws and Aaron Bacote split a pair to ice the game.
Freeman was perfect from the free throw line to finish with 13 points and Denzell Taylor added 10 for the Monarchs. Baker hit four of Old Dominion's six 3-pointers.