Caruso was 10 of 14 from the field and had nine rebounds. Pete Miller added 12 points for Princeton (6-2).
Spencer Weisz split a pair of free throws and Princeton led 75-69 with 22 seconds remaining. Dawson made a 3-pointer to pull Liberty to 75-72 with 17 seconds to play. Devin Cannady made two free throws with six seconds left to seal it for the Tigers.
Dawson made a layup and the Flames had their last lead, 47-46 at the 14-minute mark. A 23-14 spurt, capped by Amir Bell's 3, put the Tigers up 69-61 with 3:48 to go. Caruso scored seven during the stretch.