The Gunners held Chelsea to a goalless draw at Stamford Bridge in September, a game that both Ozil and Sanchez started on the bench, and the former Arsenal man believes Arsene Wenger should use the same tactics against local rivals Spurs.
Nicholas told 'Sky Sports': "If Arsenal are serious about winning these big games, I would go with Alexandre Lacazette and Danny Welbeck and leave Ozil out and Sanchez out.
"Are they two of our best players? Of course they are, but they don't do enough in these big games.
"Welbeck isn't as talented but what you've got to do against a back three is move them about to create chances, while Lacazette is our best finisher and sulky Sanchez doesn't like playing out wide.
"I'd play Alex Iwobi as well. People will question me for leaving those two out but it worked against Chelsea.
"I'd have Aaron Ramsey in central midfield with Granit Xhaka, but my concern is that Wenger sticks with his principle of playing two holding midfielders, even though he doesn't have the right players to play in those positions."
Do you agree with Nicholas? Let us know in the comments.