COLLEGE BASKETBALL / NCAA TOURNAMENT : Wake Forest Scores a Double Victory : ACC: First, Demon Deacons beat North Carolina, 82-80, to win the tournament, then they are given the No. 1 seeding in NCAA East Regional.

That was some Sunday for North Carolina.

The Tar Heels managed to lose star center Rasheed Wallace to an ankle sprain and the Atlantic Coast Conference tournament final, 82-80, to Wake Forest.

They also lost the No. 1 seed in the NCAA tournament’s East Regional to the Demon Deacons, who got 37 points, an ACC tournament record 107 overall, from guard Randolph Childress, playing with a dislocated pinky on his shooting hand.

It could have been worse, though North Carolina will need a few minutes to think of something.

Wallace, a lottery pick waiting to happen, fell awkwardly on his left ankle after missing a short baseline jumper and suffered what was later termed a “mild-to-moderate” sprain. At the time, the Tar Heels led the Demon Deacons, 61-55.

He was through and, as it turned out, so were the Tar Heels.

“Just part of the game,” said North Carolina Coach Dean Smith, who is expected to have Wallace back in time for the Tar Heels’ NCAA tournament game Friday.

In less than four minutes, seventh-ranked Wake Forest (24-5) had a one-point lead over fourth-ranked North Carolina (24-5). Serge Zwikker, the Tar Heels’ 7-2 sophomore center, simply couldn’t handle star Deacon center Tim Duncan, who used his quickness to score two baskets in what would become a 14-4 run.

But North Carolina still had the other half of its lottery-pick twosome. Swingman Jerry Stackhouse scored 18 of his 24 points in the second half, six of them after Wallace limped off.

Stackhouse’s steal and two-handed dunk with 1:30 left cut Wake Forest’s lead to two points. It also energized a pro-North Carolina crowd left numb by the sight Wallace writhing near the baseline a few minutes earlier. And it was Stackhouse who, with the game clock racing toward zeros and the Tar Heels trailing by three, calmly gave a pump fake to Wake Forest defender (so to speak) Rusty LaRue and then made a three-point shot with 4.5 left in regulation.

Overtime.

But Stackhouse, no matter how hard he tried, couldn’t match Childress. Childress scored all nine Wake Forest overtime points, including the go-ahead basket with 4.0 seconds remaining.

“I was determined not to let anything stop me,” Childress said.

Carolina had one last chance. Down, 82-80, Pat Sullivan threw a baseball pass to Stackhouse past the midcourt line. Stackhouse immediately called timeout. Three seconds left.

Stackhouse got an open shot--a three-point attempt from near the top of the key--but it missed. So did Pearce Landry’s tip.

It was the first ACC Tournament championship for Wake Forest since 1962 when broadcaster Billy Packer was on the team.