I like the idea a lot. Trying to escape the elevator before it crashes is a great setup.
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I may have been doing something wrong, but I could not figure out how to stop it. I found the key, but I couldn't get it to work in the slot on the ceiling. The key also stayed very low. It moved around with me, but I wasn't sure if I actually picked it up or not. Am I missing a step somewhere?
Either way, congrats on making it through the game jam! I think you crafted a nice atmosphere, and the concept is really cool!