Wolves came from behind to re-ignite a promotion bid which had looked in danger of faltering against Reading at Molinuex.
Nicky Forster had given play-off rivals Reading a 25th-minute lead before substitute Shaun Newton’s 75th-minute shot was deflected into his own by defender Graeme Murty.
And less than 10 minutes later Lee Naylor’s unstoppable free-kick completed the hosts’ comeback against their semi-final first leg opponents.
Now Dave Jones’ side will travel to the Madejski Stadium for Wednesday’s second leg installed as bookies’ favourites to reach the play-off finals at Cardiff’s Millennium Stadium after Nottingham Forest and Sheffield United fought out a 1-1 draw at the City Ground.
In Division Two, Oldham drew 1-1 with QPR while Cardiff beat Bristol City.
In Division Three Bury and Bournemouth drew 0-0 while Lincoln beat Scunthorpe 5-3.