Jay Bothroyd grabbed a superb double but 10-man Wolves were pegged back by Coca-Cola Championship also-rans Crystal Palace at Selhurst Park.
Bothroyd cancelled out Mark Hudson's shock opener before neatly firing play-off chasing Wolves ahead with his ninth goal of the season.
But Jobi McAnuff tucked away a fine equaliser before Wolves midfielder Mark Little was shown a second yellow card - all before half-time.
The red card ruined the game as a spectacle, however, with Wolves unable to throw men forward after the break and Palace lacking the guile to break down the 10 men.
Palace are resigned to another year in the Championship following an inconsistent season, but they made the brighter start with fit-again McAnuff bursting through the Wolves midfield only to fire high and wide.
At the other end, Bothroyd and Andy Keogh squandered early chances before Palace took a 13th-minute lead when Hudson met Ben Watson's free-kick with a firm header which gave Jan Budtz no chance.
But virtually from the restart Wolves were level when Michael McIndoe charged down the left and crossed for Bothroyd to steer a glancing header past Gabor Kiraly and into the top corner.
And in the 22nd minute Bothroyd took his tally to four goals in two games with a classy finish, latching onto Keogh's clever pass, dancing past Hudson and rifling the ball over Kiraly and into the roof of the net.
Lively winger Michael Kightly might have added a third on the half-hour, jinking along the edge of the Palace area before firing in a low shot which Kiraly saved.
Shefki Kuqi had the ball in the net for Palace moments later, but his effort was disallowed for a push on Budtz.
But Kuqi had a big hand in Palace's 37th-minute leveller, racing onto a long clearance and wrong-footing the Wolves defence with a square ball for the onrushing McAnuff, who slammed a first-time shot past Budtz.
Little, who had earlier been booked for a foul on McAnuff, was dismissed after bringing down the same player two minutes before the interval.
Palace squandered two good chances to go ahead after the break, Kuqi firing horribly wide after racing onto McAnuff's pass before Tom Soares headed straight at Budtz.
Clinton Morrison was also twice unmarked in the Wolves six-yard box but could not get a touch on low crosses from Matt Lawrence.
Bothroyd, by now up front on his own due to Wolves' reshuffle, had a goalbound shot blocked by Leon Cort during a brief respite.
Budtz then got down well to save a Cort header and Morrison put the rebound wide before Bothroyd pulled up sharply and was substituted, bringing an end to any attacking intent from the visitors.
McAnuff had a couple of shots deflected wide, and Mark Kennedy sent a free-kick over late on.
But with Wolves sitting on a point and Palace with one eye on the summer holiday brochures, the game was over as a contest long before the final whistle.
Teams
Crystal Palace Kiraly, Lawrence, Hudson, Cort, Borrowdale,McAnuff (Kennedy 78), Watson, Fletcher, Soares (Ifill 60),Morrison, Kuqi (Scowcroft 73).
Subs Not Used: Speroni, Butterfield.
Booked: Morrison.
Goals: Hudson 12, McAnuff 37.
Wolverhampton Budtz, Little, Breen, Craddock, McNamara,Kightly (Mark Davies 83), Potter, Olofinjana,McIndoe (Neill Collins 45), Bothroyd (Ward 64), Keogh.
Subs Not Used: Hennessey, Gleeson.
Sent Off: Little (43).
Booked: Little, Bothroyd.
Goals: Bothroyd 13, 22.
Att: 17,981
Ref: M Thorpe (Suffolk).