I HIGHLY doubt that conditions will be so bad that the game can't be played. Unless there is a danger of lightning, but in those cases the officials usually just delay play until the lightning has subsided.Here is the rule for suspended play as outlined by NCAA guidelines.
When the game is stopped by actions of a person(s) not subject to the
rules or for any other reasons not in the rules and cannot continue, the
referee shall:
1. Suspend play and direct the players to their team areas.
2. Refer the problem to those responsible for the game’s management.
3. Resume the game when he determines conditions are satisfactory.
c. If a game is suspended under Rules 3-3-3-a and b before the end of the
fourth period and cannot be resumed, conference policy shall determine
whether the game will be resumed at a later date, terminated or forfeited
(and the final score). If no conference policy is applicable to both
teams, the directors of athletics at the participating institutions or their
designees, in consultation with the coaches, shall determine whether the
game will be resumed at a later date, terminated or forfeited (and the
final score if the game is terminated) (Rule 8-1-2).
d. If a game is suspended under Rules 3-3-3-a and b after four periods of
play and cannot be resumed, the game shall be ruled a tie. The final
score shall be the score at the end of the last completed period. (Note: If
a winner must be determined in a conference playoff game, conference
policy shall determine when and where the game will be resumed.)
e. A suspended game, if resumed, will begin with the same time remaining
and under the identical conditions of down, distance, field position and
player eligibility.
f. The referee’s discretionary timeout also applies to the following
situations:
1. When there is undue delay by officials in placing the ball for the next
snap (A.R. 3-3-3-I).
2. When there is a consultation with team captains.
3. When conditions warrant temporary suspension.
What the Big 12 rule is? I don't know, and this is as much research as I'm going to put into it right now. But historically, refs are very unlikely to stop or suspend a game unless absolutely necessary.