72o in the BB with short stack

[M.B.E.]

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I wound up calling, and hit nothing. I was up against AKs, QQ, the third guy folded but said he had 77, and the fourth guy folded and kept quiet.

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Ha, your pot equity was less than 4%. But that's only because two of your sevens were dead. Give the guy eights instead of sevens and your pot equity is about 8.5%. But the other players are not all in, so there's a possibility the "best hand at the river" will have to fold on the flop or turn, which increases your pot equity somewhat. Ignoring that factor, if you call your last T85 the main pot will be T2550, of which your equity is T217 (using the 8.5% figure). Since that's more than the T85 you'd have if you folded, you should call. If it were close to the money then you could fold here despite your pot equity.