The Doritos commercial alludes to a possible love triangle.
"The World will always feel your IMPACT & LOVE," the 51-year-old wrote of Baby Girl.
The one-day event is headed to Las Vegas this May.
The prestigious academy is also honoring the current CEO of EPIC Records, Sylvia Rhone.
The "Lose Control" artist's record was 13 consecutive years.
"You don't want nothing to block your blessing"
The music pioneer also donated $20,000 to the university.
The Grammy award-winning artists traded flowers and recognition on social media.