Actually I just heard the clip and feel awful for the guy. We could go back and forth about what he should've done, how to avoid it, etc....but the poor guy really thought he was about to die. Nobody should have to go through that.
I do give the guys on the radio a lot of credit...in the face of someone screaming their head off, they stayed totally calm and gave him helpeful instructions. I suspect it helps to have a calm voice in your ear when you're losing your mind like that.