I agree that getting LoVett healthy is paramount.  That being said, I think it's dangerous to overlook our remaining non-conference games.  A signature win against a team like Arizona St. would go a long way on selection Sunday.  It's not implausible that we lose to Iona, or more likely St. Joes absent LoVett.
In short, I would say don't rush him back, but I certainly hope he's ready to go by Iona.  If not, I will have concerns that this injury may be more serious.  I can't help thinking about the knee injury suffered by one of my favorite recent Johnnies, Darryl Hill.  I don't recall him ever specifically injuring the knee, but think it was just one of those chronic conditions.