Dario Hunt added 10 points for the Wolf Pack (24-5, 12-1), who will carry the No. 1 seed in next week's conference tournament in Las Vegas.
Wendell McKines led New Mexico State (22-9, 9-4) with 19 points and 13 rebounds.
The Wolf Pack led 63-54 with 3:02 remaining before the Aggies reeled off seven straight points to make it 63-61 with 57 seconds left.
The Aggies could not score in the final seconds, however, and Deonte Burton hit a pair of free throws with 1.1 seconds remaining to put the game away.
Nevada hit 7 of 16 3-point attempts and shot 43 percent overall from the floor. New Mexico State shot just 34 percent.