Martin scored twice in both the second and third quarters and finished with 83 yards on eight carries.
Kellen Moore passed for 272 yards with one touchdown, and Jeremy Avery scored once on 16 carries for 86 yards for the defending WAC-champion Broncos, who kept their at-large BCS bowl hopes alive with their fourth unbeaten regular season in the last seven years.
Seth Smith led NMSU with 114 yards on 35 carries.
Trevor Walls scored on a 1-yard run with 4:32 left, averting a shutout, while Jeff Fleming completed 3-of-7 passes for only 36 yards for the Aggies (3-10, 1-7), who gained just 191 total yards and ended their season with a seven-game losing streak.
Swim Week Miami Beach 2014 [PHOTOS]