Ferdinand Melocoton and Reynaldo Dominion sank a free throw each in the final 14 seconds, before the Generals came through with a huge defensive job in the games final play.
It was their seventh win in as many games in the eight-school tourney backed by Shakeys Pizza, Accel, Villa de Oro Resorts Boracay, Arena Swimwear, New Balance shoes, Molten and Mikasa balls.
In the other game, La Salle-Dasmariñas overwhelmed sister-team La Salle-Manila, 96-58.
Its first loss after a four-game winning run had St. Francis tying La Salle Dasma at 4-3 while La Salle-Manila remained winless in seven games.
"We pushed ourselves to the limit to avert an impending defeat. Nakakahiya kasi, lahat nanonood sa amin at nagbigay ng suporta, from our school president to the parents of the players talagang all-out ang support sa amin," said EAC coach Nomar Isla.
"Good defense and breaks of the game made the big difference. We really played hard. Talagang may gustong patunayan ang mga players. I just hope ma-maintain namin ito hanggang finals," said isla, who also serves as EACs head for varsity sports and athletics event.
Led by veteran Al Vergara, the Doves showed the stuff that made them champion last year as they led the host team, 42-34, in the third period.
Philippine Basketball League (PBL) rookie Ronjay Buenafe then scored back-to-back baskets to spark the Generals comeback entering the final period.
EAC posted a 64-59 lead on Darwin De Guzmans three-pointer with under three minutes remaining, but the Doves simply refused to roll over and die.
A three-pointer by Loemer Locentes and a jumper by Vergara put St. Francis to within 64-65, but EAC answered back behind the split free throws of Melocoton and Dominion.
St. Francis still had 14 seconds to make a final play, but the Generals blocked all the entry lanes behind their daunting defense, forcing Vergara to heave a last-second, prayer-of-a-shot that bounced off the rim.
An ecstatic EAC crowd which included school president Dr. Jose Paulo Campos, PE director and UCAA prexy Romeo Gabriel and sports development chief Rodiel Kirby Baloy celebrated as the final buzzer sounded.
Meanwhile, league officials announced that actions in basketball and volleyball will resume on Aug.30 to give way to the students mid-term examination.