Acie Law tied the game with a 3-pointer from the top of the key with 6 seconds left, before Jackson drove the length of the court and pulled up for the winning score. The crowd sat in stunned silence for a few seconds while officials looked at a reply of the basket before declaring it good.
Jackson finished with 31 points and helped coach Bob Knight avoid matching the worst losing streak in his career. The win is Tech's second of the season over the Aggies and they remain the only Big 12 team to beat A&M (21-4, 9-2 Big 12) this season.
The loss breaks a five-game winning streak for A&M and also snaps a streak of 21-straight home wins.
Law led the Aggies with 23 points and Jones and Antanas Kavaliauskas added 18 each.
Texas A&M led by double digits throughout the first half and early in the second half, but the Red Raiders took the lead with 10 minutes to go. The game was back and forth for a span after that with no team getting ahead by more than a basket before Texas Tech went ahead 67-63 on a jumper by Decensae White with 3:36 remaining.
Law got A&M back within 2 on a jumper of his own before Jackson and Martin Zeno hit back-to-back baskets to give Tech a 71-65 lead. Zeno had 19 points and six assists and White added 10 points.
Texas A&M led 52-45 when Knight drew a technical for jawing with an official about a foul call. Law made one of the technical foul shots to push the lead to eight, but the Red Raiders looked inspired after Knight's outburst and outscored the Aggies 8-2 over the next 2 1/2 minutes. A reverse layup by Zeno with about 10 minutes to go gave Tech its first lead of the game, 55-54.
The Red Raiders trailed by as many as 11 points early in the second half, but got back in it by laying off of the outside shot and aggressively attacking the basket. Threes by White and Jackson on consecutive possessions cut the lead to 47-43 with about 14 minutes remaining.
The Aggies entered the game having held 35 straight opponents to less than 50 percent shooting, which was the longest streak in the nation. The Red Raiders shot 51.9 percent to break the streak.