The Sooners, who led by as many as 14 before halftime, were up 52-36 when M'Baye made a jumper with 13:29 left.
When Jackson had an assist on a layup by Austin with 3½ minutes left, Baylor was within 61-56. But Hield responded with a 3-pointer and Pledger had a steal and drove for a layup when he got fouled, then made the free throw for a 67-56 lead.
Baylor then scored 10 in a row, including a 3-pointer by Heslip and steal by Jackson for a driving layup, before Hield's bank shot.
"We've got to play like that the whole 40 minutes," Walton said.
Jackson's two free throws with 10 seconds left got Baylor within 72-71 before Pledger made two of his own.
"Steve wants the ball there late in the game. That's the key for making free throws late, wanting to be there," Kruger said. "Good to see him jump up there and knock down those last two."
Baylor made 28 of 75 from the field (37 percent), and missed seven of its first 12 free throws before making four of the last five.
The Bears were within 21-20 early after Jackson grabbed a rebound and drove the length of the court for a layup with about 8 minutes left in the first half.
That came after a 1-minute span when Walton missed two free throws and Jackson missed the front end of a bonus situation while in between Austin had a shot blocked by M'Baye.
Osby had a layup on an alley-oop pass from Hield to start a 15-2 run that put the Sooners up 36-22.
Baylor had only one field goal in a span of more than 6 minutes. That was Austin tipping in his own miss — after the Sooners scored eight points in a row before that and the next seven afterward.
"We let a couple of their players almost have career nights on us," Jackson said. "We didn't adjust at all. That's our fault."