Penn State has 155 points. A third or fifth place win is worth 1 more placement point. A first place win is worth 4 more placement points.
PSU's 9 remaining wrestlers can earn 18 more placement points, putting their total at 173.
They can afford to miss out on a few third place finishes as long as they get enough bonus points to cover the difference.
It will be much harder to do if they lose a final, but not impossible. Technically they can lose all three finals, as long as they pinfall everyone else, and still get the record.
Sucks to be them.