What a classic!
Honestly, it seems like Nupondi is doing pretty well in the beginning before some Loana plot armor strikes. She even manages to bash the back of Loana's head on a rock which she just shrugs off and then goes to an insane "must burn you" phase. But anyway, while it still iconic, I really have thought ever since I saw the original clip that Loana only gets ahead because of plot armor.
Personally, I would have liked to see it stay more along the lines of a nasty catfight. Loana and Nupondi rolling around more, pulling each other's hair and attacking each other until Nupondi get's the upper hand by scratching Loana's beautiful face so bad that she's got red welts to match her hair. Then, after ripping her animal fur top off, she either slowly forces Loana to either submit or have ribs broken by using those thighs around her in a scissors. Or, she manages to wrestle and scratch the fight out of Loana that she basically just mounts her, pins down her arms, and slowly chokes her out, and the way the tribe was acting, it could be a "permanent" nap for Loana. Such is life in the time of overgrown Iguana.
If we go with cannon, then in a rematch my opinion doesn't change, but I'm almost 100% certain that Nupondi would not only beat Loana, but certainly end her for humiliating her the first time in front of the cave-folk.