This is a classic case of time mismanagement.
Yardage and a FG are secondary concerns when you can guarantee running out the clock with a 10,000,000 to 1 shot of losing the ball.
Even if you have 21 seconds to kill, I would use what I call the "Comptrbob retreat" which consists of a line up of your best QB ball handler and 10 pass blockers. Take the snap from center, form a blocking pocket/protective cup around the QB and slowly move the whole cup backward (up to 20-30 yards back from the line of scrimmage if needed) and toward one sideline (use the sideline as one protective boundary). Usually this alone will kill at least twenty seconds, and then if you need more time, throw it into the stands which will use another 5 seconds.
Of course, the entire play sequence from 1st and goal from the 7 yard line was screwed up. The retreat play could easily burn an extra 7 seconds per play (the runs each took about 4 to 6 seconds) and fourth down wouldn't even have happened.