It seems likeness rights might be sufficient? You can't put random college athlete's in a video game, the situations aren't exactly the same but I don't see many 1st amendment purists even talking about likeness rights.
I'm pretty sure you can, as in - the law doesn't forbid you from doing so. But the person you are portraying may and will sue you for damages and/or portion of your profits. But that would be a civil case, not a criminal one, right?
Edit: I was wrong :)