The story, written and directed by Tim Chambers, focuses on the 1972 National Women's Collegiate Championship-winning Immaculata College basketball team.
Gugino will play the team's coach, with Boreanaz as her husband.
Shooting on the indie flick is scheduled to begin on Wednesday (May 23), according to the industry trade papers. Pat Croce is producing.
Recently appearing on "Entourage," Gugino's feature credits include "The Lookout" and "Night at the Museum."
On the big screen, Boreanaz has appeared in "Valentine," while he has the indie black comedy "Suffering Man's Charity" on tap.
Burstyn is a six-time Oscar nominee, most recently for "Requiem for a Dream." She won in 1975 for "Alice Doesn't Live Here Anymore."