Wolves were making their first top-flight visit to Portman Road in 41 years but after testing the home side’s resolve early on, with Alex Palmer making two good saves, the visitors fell behind.
Liam Delap made it two in two, after he was at his sharpest to react to Dara O’Shea’s header back across goal and pounce inside the six-yard box.
Ipswich appeared to be heading towards the interval with the scoreline intact until a lapse in concentration from Palmer saw a gentle back pass roll under his foot, leaving the panicked goalkeeper scrambling to prevent the ball crossing his goal line.
The subsequent indirect free-kick from six-yards awarded to Wolves saw a nervous hush fall on the home support, but that quickly lifted when their point-blank attempt was well-blocked by skipper Sam Morsy.
Having finished the opening half strongly, Wolves continued on the front foot following the restart. Gomes, who was increasingly finding more space as Ipswich dropped deeper, drilled a fierce strike from distance that smacked against the post with Palmer well-beaten as Vitor Pereira watched his side dominate from the stands.
Wolves’ persistence was eventually rewarded with a deserved equaliser after Jørgen Strand Larsen did well to keep a promising attack alive, and cut the ball back to substitute Pablo Sarabia at the edge of the area, who kept his composure to find a shooting lane before stroking the ball into the bottom corner.
Such was the visitors' dominance, a second goal seemed inevitable. This time, Sarabia was the provider as he dispatched a clever first-time pass across the goalmouth for Strand Larsen to prod the ball home to all but confirm Wolves’ PL status.
With this latest setback, only bottom side Southampton have earned fewer points at home than Ipswich with their return to the Championship practically sealed with Wolves pulling 12 points clear as the side immediately above the bottom three.
Flashscore Man of the Match: Pablo Sarabia (Wolverhampton Wanderers)