Coastal Carolina running back Eric O'Neal scored on a 5-yard run and the Chanticleers tried to send the game into a sixth overtime, but Zach MacDowall's pass was deflected by Dangerfield.
The Tigers (1-1) trailed 21-7 in the fourth quarter before rallying to tie the game on two touchdown passes by Chris Hart.
Hart found James Oboh for a 2-yard score with 9:40 left in regulation, and then connected on another 2-yard TD to Tom Ryan with 3:54 left.
Hart finished 13 of 21 for 155 yards and rushed for 79 more on 22 carries. Tremayne Dameron added 107 yards on 29 carries for the Tigers.
Both teams traded field goals in the first overtime, before MacDowall scored on a 1-yard rush to put Coastal Carolina (0-2) up 30-24 in the second extra period. Justin Durham's extra point missed wide left.
Dameron tied the game on a 2-yard run, but Towson kicker Nick Wallace hit the left upright with a chance to win it — sending the game into a third overtime.
The Tigers then took a 36-30 lead on Dameron's 4-yard run, but Hart's two-point conversion failed.
After O'Neal scored from 7 yards out, the Chanticleers once again couldn't win it as MacDowall's pass attempt failed.
Both team's kickers converted field goals in the fourth overtime period, and Hart went to work quickly in the fifth.
Hart found Moore for a 25-yard touchdown to lead 47-39.
Both kickers converted a field goal in the fourth overtime period, sending the game to another overtime period.
The Tigers' possession in the fifth overtime period was short as Hart hit Hakeem Moore for a 25-yard TD pass. After Hart rushed in the conversion attempt, the Tigers led by 47-39.