Yes, falling down would have been the smarter play. Like bypassing a layup in the final seconds of basketball to run more clock. I've seen defenses down 1 purposely let a team score so they can get the ball back and try for 8 points.
That said, I'm sure I would have taken it to the house too given the chance! ;-). I've never been a football player, but I'm sure it's instinct to keep running.
The NFL ORDERS players not to score (and conversely have told their Defenses to let'em go in so we get the ball back with plenty of time to come back, all while giving up a lead late in a game), and there was a Giants game this year or last I believe that was lost because someone didn't listen and did score when they didn't want them to. Left too much time on the clock and they paid for it. It ABSOLUTELY is part of the game, and should be Coached at any level.
Of course Daniels it trying his hardest to score, and it probably never occurred to him, but it should have (not picking on him in the least). I would bet if that were CJ Beathard it certainly may have occurred to him to go down. I don't know if we can kneel on it at that point, but damn close to it. The game is basically OVER if he goes down. There is no 45 second Gopher score or onside kick attempt with a minute and change left if Daniels goes down, well, anywhere after he breaks free. Yeah, you're up more, but then you let the onside kick come into play, as unlikely as you think that may be. That is bad. It's really bad if you're Iowa and know history at all.
Iowa's Defense was swiss-cheese like all night long. There was zero reason to believe it was going to change because it was late in the game, and lo and behold it was worse late than it had been all game. We dodged a bullet, a bullet that we didn't need to dodge. I don't fault Daniels, but it was certainly an option, one that should have been employed IMO.
You can't score more than 2 points without the ball. That much I do know.