Just to put things into perspective, if this is an ambush you're screwed. The fact that the M1's drove past the T-72's indicated that either:
a) The opposition force (opfor) is asleep and your tankers are blind
or
b) They are trying to ambush the M-1's and you only saw through their camo because of movement from the turrets tracking the M-1's and the infantry moving up to get you.
T-72s are wholely outclassed by M-1's. Here, read the link below this paragraph, its the story of the Battle of 73 Easting, during the Gulf War I where US armor went head to head with Republican Guard armor. It shows how a small US force took on a much larger Iraqi force at point blank range. In the initial battle a force of 10 M-1's took on 20 Iraqi's w/o loosing a single tank. In the second battle with much worse odds and the US lost one M3 Bradly.
http://www.answers.com/topic/battle-of-73-easting
In order to better understand what we are to do, we must first understand the enemy's objective. If you are going to fight US armor you must destory the M-1's, nothing can stand toe to toe with them. In this scenario opfor must be planning to smack the M-1's in the *** where their armor is lightest and the T-72 can do damage before the M-1's can react. You in the M-2/3's are light work for the T-72's and if you can't use your TOW's there is nothing you can do to them (your infantry will have better luck provided they have AT-4's or Javlins). Also, infantry with RPG-7's can take you out, God help you if they have anything bigger like Stagger or ERYX missles.
Furthing the ambush situation, you must consider the possibility that there is a second element to the ambush. IED's in the road is the most popular way of dealing with US armor in Iraq. There may be more T-72's dug in at a different location. There may be light or heavy arty zero'd in on you (if you dismount your infantry as the first shells hit they will be cut to pieces, on the other hand if you get hit by even an RPG with infantry inside they are equally screwed).
You can probably safely ignore the supply trucks, as that's exactly what the enemy will do until all the shooters are burning wrecks (that's you).
If the situation is b) from above you will loose at least 2 M-1's before you can issue your orders and a hail of RPG's will knock out at least one of your APC's. Your only hope is to turn the table on the attackers. Traditionally that means manuvering, since these tanks are dug in it will take time for them to move and you could flank them, but in this situation you don't have that option. Another way to reverse the odds is to call in air support, but this is such a fast evolving situation unless the Super Cobra's are hovering just beyond visual range they will not be there quick enough to help much before you get decimated.
So the only thing left to reverse fate is to use superior technology. Heavy smoke will blind all but the most advanced thermal sights. Thermal sights are expensive and require mantainance, two conditions most "rebel" forces cannot fulfill. Even if they do have thermals on the tanks, the infantry probably does not.
Now back to a), you're completely screwed. If the T-72s hit you first they will be dead in the time it takes for the M-1s to traverse their turrets and fire, however you don't stand a prayer against the 125mm gun at point blank range.
So hope this opfor knows what its doing and that you might live to see the end of the engagement, which will end with the complete destruction of the opfor. Its just a question of your own casualties.