The Colombian's late tackle on Danny Rose earned him a second booking in the closing stages of Saturday's 1-0 win at White Hart Lane.
Sherwood was speaking to the Villa’s official website after the match at his former club, where his side went six points clear of the relegation zone thanks to Christian Benteke’s first-half header.
The result will serve as a huge confidence booster going into next weekend’s FA Cup semi-final against Liverpool but it came at the cost of injuries to Ciaran Clark and Gabriel Agbonlahor, who could both now miss the Wembley showpiece.
Sanchez, meanwhile, has been ruled out for definite, after being sent off at White Hart Lane for picking up a second booking.
The Colombian was shown his marching orders in the closing stages for a late tackle on Danny Rose, who was breaking down the pitch, but, rather than criticize his player’s recklessness, Sherwood was instead full of praise for his commitment to preserving the narrow lead.
"Carlos knows that if he gets sent off he misses the semi-final,” said the Villa boss. "He has probably never played at Wembley before.
"But he sacrificed himself for the club. I want characters like that."
Villa are nevertheless set to be short-handed against Liverpool due to various injuries and Sanchez’s suspension, leaving Sherwood to joke that he might now need some of his coaching staff to suit up on the afternoon.
"I am going to get Stan Petrov and Gordon Cowans warmed up because they might have parts to play,” he added.