A basketball Rules Question (with $50 riding on the outcome)

[SossMan]

I play basketball at 5am 3 times a week at my gym. The same bunch of crappy old dudes, crafty old dudes (there was a legit hook shot this morning) and good, young high school varsity level players.

So here's the play and the argument that ensued (these facts are not disputed):

Player A drives the lane
Player A goes up for a lay up
On his way up, Player B swipes at the ball and gets a piece of it.
The swipe was enough to make Player A lose control of the ball in the air (both hands were off the ball and the ball was in the air being touched by nobody)
While still in the air, Player A regains control of the ball.
Player A lands with both hands on the ball, passes the ball to a teammate who drains a 3 to end the game.

Here's the argument:

1) It's a Jump ball since he didn't let the ball bounce to the ground
2) It's a travelling violation since he didn't ever let the ball bounce to the ground
3) It's a non-call and a live ball, therefore the bucket counts


We have $50 riding on the outcome (not here, but I wanted to see if I was on the correct side of this commonly disputed call).

What's the call?