Lockbaum was a two-time First Team All-America selection (1986 and 1987) as a defensive back. He still holds several Holy Cross offensive records, including most touchdowns in a season and most points in a season (22 and 132, respectively, accomplished in both 1986 and 1987). Lockbaum was inducted into the Glassboro High School Hall of Fame in 1989, the Holy Cross Varsity Club Hall of Fame in 1993, the College Football Hall of Fame in 2001, and the ECAC Hall of Fame in 2017.