A Free Throw is the same thing as a Titty Fuck, derived from the abbreviation TF and then reversed to FT.
Free Throw is used as a method to be able to speak about the action in a public setting, without alluding to what is actually being spoken about.
After spring break, the story of the infamous Free Throw circulated around the school, causing many to ponder over how Manish and Gertrude put themselves in that situation.
Guy2: Yeah bro, its no big though she was nothing but a free throw.
Guy1:Yeah...look dude after that whole mess I decided i can't hang with you no more seeings how you like men's facial hair all on your junk and all.