I think they'd have gone for two regardless there, if they had made the extra points AND had the two point conversions, they could have lined up for a field goal to tie or go into overtime. The argument could actually be made fairly successfully that had he made the kicks they would have been in position to win the game with a field goal.
Really, the two point conversion was fairly meaningless, had they just kicked the PAT, they would have been down 5 and would have still needed to score a TD to win. The only difference would have been had they scored a touchdown with enough time for Miami to answer and then they would have had to go for 2 again to put them up 3 meaning the Canes would have only needed a FG to tie.