Burnette got open in the lane off a South Dakota (7-4) inbound play after Milwaukee's Matt Tiby turned it over with 5.6 seconds left. Tiby secured a defensive rebound off Trey Norris' miss but fell to the ground for a travelling violation.
Tiby, who finished with 31 points and 17 rebounds, had just given the Panthers (8-4) the lead with 14 seconds to play. He also passed 1,000 career points.
The Panthers appeared to win off Springs' tip-in with less than a second left in first overtime, but the referees reviewed and determined the shot clock had already expired.