Odyssey Sims scored 28 points and hit a pair of free throws with 9.1 seconds left to give the Lady Bears (34-2) their only lead of the game.
Reid caught an inbounds pass near the baseline after that and went coast to coast before getting fouled by All-American Brittney Griner.
Sims had one last chance to save Baylor’s season after Reid’s free throws but was off-target and late on a desperation heave.
Louisville (27-8) tied an NCAA record with 16 3-pointers to pull off the upset.
OKLAHOMA CITY REGIONAL
TENNESSEE 74, OKLAHOMA 59
In Oklahoma City, Kamiko Williams scored 15 points, Cierre Burdick had 13 and second-seeded Tennessee routed Oklahoma.
The Lady Vols (27-7) opened a 20-point lead in the first half and never let Oklahoma make a comeback.
Tennessee will face No. 5 seed Louisville on Tuesday night. The Lady Vols have lost in the regional finals the past two seasons and haven’t made it to the Final Four since winning the national title in 2008.
NOTRE DAME 93, KANSAS 63
In Norfolk, Va., Skylar Diggins scored 22 of her 27 points by halftime and became the school’s career scoring leader, helping top-seeded Notre Dame advance to the regional final.
And Diggins made it look easy, adding nine assists and three steals, and scoring nine in a row during a 16-2 first-half run that put the Irish (34-1) ahead to stay.
The victory was the 29th in a row for Notre Dame, and left the Irish one victory shy of a third consecutive trip to the Final Four. They have lost in the title game each of the past two years.
DUKE 53, NEBRASKA 45
Tricia Liston scored 17 points and Duke shook off a slow start to beat Nebraska.
Alexis Jones added 14 points for the Blue Devils (33-2), who also struggled last weekend at home. They advanced to Tuesday night’s game against top-seeded Notre Dame with a berth in the Final Four on the line.
The Cornhuskers (25-9), in the round of 16 for just the second time in school history, struggled from the field. They shot 30.3 percent and hit just 3 of 24 3-point tries.