Macaluso played college basketball at Canisius College from 1970 to 1973 where he lead his team in scoring in three consecutive seasons and averaged 8.7 rebounds per game, which ranks in the top-10 all-time in school history. He was inducted into the Canisius College Hall of Fame in 1989.
He was drafted by Buffalo Braves in the sixth round (88th overall) of the 1973 NBA Draft. He was also drafted by the ABA's Kentucky Colonels that same year. Macaluso signed with Buffalo.
After his NBA stint, he played for the Israel Sabras in the European Professional Basketball League in 1974-75 where he helped win a championship. The league folded up after that one season.

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