UPDATE: Prep Rally has been in touch with Monsignor Pace, and has learned in no uncertain terms that a blowtorch was not used in this stunt. Rather, the dunk was performed by a fire breather as part of a pep rally performance by the Miami Bboy Academy. In fact, according to a Monsignor Pace official, the stunt was performed in a setting that didn't revolve around a basketball game at all, as reported both here and elsewhere. Rather, it was part of a large pep rally to honor both the fall and sports teams.
If anything, a fire breather dunk seems a heck of a lot cooler to Prep Rally, let alone safer. It's good to know that not only were teens not at particular risk by the stunt (assuming the building doesn't burn down), but they also got to check out fire breathing at its best.
Prep Rally apologizes for any confusion caused by the initial assessment that a blowtorch had been used in the stunt, and is thrilled to learn of the true, fire breathing origin of the stunt. How cool are fire breathers!