Livingston and Devin Carter, who finished with 15 points, combined for 13 of the Red Wolves' 18 points in overtime with Livingston's bucket with 35 seconds left making it 71-64.
Charles Waters added 13 points and 10 rebounds and Sean Gardner also scored 13 points for Arkansas State (10-10, 6-3 Sun Belt).
Frederic Dure and Waters scored in the final 17 seconds of regulation to give Arkansas State a 57-56 lead, its first since early in the first half, but Isaiah Williams tied it by making 1 of 2 free throws with seven seconds left.
Jeremy Hollowell scored 15 points to lead the Panthers (12-6, 5-4) before fouling out with over seven minutes left. Kevin Ware added 14 points and Markus Crider 11 while T.J. Shipes had 11 rebounds.