After putting way too much thought into this, here's what LAC should've done... After LAC called TO, both teams were still very much in a classic prisoner's dilemma. LV was facing 3rd down with 38 seconds on the clock and 1 TO remaining for LAC. LV wouldn't want to kneel, b/c for all they know, LAC will call their final TO to force a punt or long field goal attempt.
Instead, after coming back from the TO, LAC should have committed a pre-snap penalty (like encroachment). This would have advanced the ball 5 yards, giving LV a 1st down. This would break the prisoner's dilemma. With only 1 TO remaining for LAC, LV would have been in complete control to bleed out the clock with kneel downs.