A late blown led saw Iowa squander its chance to win a tournament last week.
Now, the 23rd-ranked Hawkeyes will try to bounce back in an event they haven't won in since 2005.
Iowa will host Notre Dame on Tuesday night as part of the Big Ten/ACC Challenge.
The Hawkeyes (7-1) appeared likely to win the Battle 4 Atlantis with a 12-point advantage with 11 minutes remaining in Saturday's championship game against Villanova in the Bahamas. However, they fell victim to a 21-2 run and couldn't turn things around in overtime in an 88-83 defeat.
The game unfolded in a manner almost opposite of Thursday's quarterfinal win over Xavier, which saw Iowa erase a 15-point second-half deficit en route to an overtime victory.
"It was two really good teams going at each other," Iowa coach Fran McCaffery said of Saturday's loss. "Both teams have experience. Both teams have some young guys who are playing well. That's why you come here. We're thrilled for the opportunity to be here in this environment and my hope is ... we can learn from some of the mistakes we made tonight."
Iowa allowed a season-high 42.9 percent field-goal percentage after having previously limited opponents to 32.7 percent shooting. The Hawkeyes were outrebounded 48-36 after averaging a plus-10.3 margin through their first seven contests.
The loss also came despite a season-high 11 3-pointers - four from Zach McCabe - on 24 attempts and 24 points from Roy Devyn Marble.
It remains to be seen what kind of shape Iowa will be in for its fourth game in a span of six nights as the program tries to extend its home winning streak against unranked teams to 24.
"It is something we have prepared for, and we have experienced guys," McCaffery told the team's website. He was a Notre Dame assistant for the teams' last meeting, a 77-66 Fighting Irish home win Nov. 17, 1990.
Iowa hasn't won a Big Ten/ACC Challenge game since a 45-42 home victory over North Carolina State in 2005.
"Our guys know what is at stake, and I'm going to play a lot of guys,." McCaffery said. "I'll make sure they're rested and we'll be ready to go."
Notre Dame (5-1) has won three in a row by an average of 27.4 points, but dropped its lone contest against an above-.500 team with an 83-70 loss to Indiana State on Nov. 17.
Coach Mike Brey is anxious to see how his team responds to its first game away from South Bend, where it claimed a 101-67 victory over Cornell on Sunday.
"It's a great opportunity for us," Bray told the team's website. " ... There is no better feeling than winning on the road. The challenge for us is going to be staying poised and our mental toughness."
The Fighting Irish's strong 3-point shooting - they're hitting 42.6 percent from long range - is led by three players all shooting at least 48.1 percent, including leading scorer Jerian Grant (19.5 ppg). Pat Connaughton is hitting 50.0 percent from beyond the arc while freshman Demetrius Jackson is hitting 57.1 percent of his long-distance looks.
Iowa ranks among the country's best 3-point defenses, limiting opponents to 21.8 percent shooting.
Notre Dame owns an 8-5 all-time series advantage but has lost four of its last five road non-conference games against ranked opponents.