3D perception in point clouds is transforming the perception ability of future intelligent machines. Point cloud algorithms, however, are plagued by irregular memory accesses, leading to massive inefficiencies in the memory sub-system, which bottlenecks the overall efficiency.This paper proposes Crescent, an algorithm-hardware co-design system that tames the irregularities in deep point cloud analytics while achieving high accuracy. To that end, we introduce two approximation techniques, approximate neighbor search and selectively bank conflict elision, that "regularize" the DRAM and SRAM memory accesses. Doing so, however, necessarily introduces accuracy loss, which we mitigate by a new network training procedure that integrates approximation into the network training process. In essence, our training procedure trains models that are conditioned upon a specific approximate setting and, thus, retain a high accuracy. Experiments show that Crescent doubles the performance and halves the energy consumption compared to an optimized baseline accelerator with < 1% accuracy loss.