I'm not saying Memphis is bright enough to handle it without a timeout, but teams should be drilled on it. Here's what you do:
1) As Hamilton steps to the line for second, you call out your home run play.
2( when the free throw goes in, nobody touches the ball - that way the five count doesn't start. (If you are especially savvy - one of the guys can accidentally kick the ball while turning up court, causing a delay while the officials retrieve it. But you might need to watch the NESCAC to see that).
3) While the inbounds passer takes his sweet time getting the ball off the ground, the other four guys go to their spots.
4) The inbounds guy finally picks up the ball, runs a little on the baseline (so as not to hit the back of the backboard), and the home run pass is thrown.
This is one of many scenarios teams should in theory be ready for.