Second half strikes from Andy Keogh and Michael Kightly condemned a much-changed Rangers side to a 2-0 defeat at Molineux.
Minus the services of five first team regulars - including star duo Dexter Blackstock and Lee Cook - the R's were forced to weather a second half storm in the Midlands, as Mick McCarthy's high-fliers moved a step closer to securing their place in the Championship play-off's.
It could have been a far different outcome though, had Jimmy Smith's stunning effort at 0-0 bounced in off the bar, instead of out.
Wolves made the most of their reprieve, when first Keogh, and then Kightly, moved the Molineux men to within touching distance of the play-off's.
In all, John Gregory made four changes to the side which beat Cardiff City seven days earlier.
The most interesting change was in the goalkeeping department, where Jake Cole replaced Lee Camp, with veteran Paul Jones having to make do with a place on the bench against one of his former sides.
Mauro Milanese, Jimmy Smith and Paul Furlong all returned, at the expense of Sampsa Timoska, Cook and Blackstock.
In a free flowing opening, it was Wolves front-man Keogh who smashed the first shot on goal, firing a yard wide of Cole's right hand post.
Wanderers' high offside line proved to be an effective tool in the opening stanza, with Furlong and Marc Nygaard both being flagged, despite Gregory contesting both decisions from his technical area.
When the former did eventually break through in the 19th minute, his pressure was enough to force Gary Breen into an error. Unfortunately for the R's, Matt Murray - widely regarded as the best custodian in the division - used his towering frame to clutch the ball from underneath his own crossbar.
Play switched to the other end a minute later, with Seyi Olofinjana dragging a low 20-yard volley wide.
Play-off hunting Wolves were in determined mood and when Michael McIndoe evaded the last line of a static Rangers defence, his miscued effort from the angle of the six-yard box flew well wide.
Rangers were by no means overawed by a partisan Molineux crowd and when the ball broke to Milanese 12-yards from goal, only a timely block from Jody Craddock prevented the Italian full-back from testing Murray.
At the other end, McIndoe was having a first half to forget in front of goal, hooking a gilt-edged opportunity wide from a carbon copy area from his earlier miss.
The R's continued to create as the half reached a conclusion. Martin Rowlands' sweeping cross from the right flank appeared to be evading everyone, until Smith crept in at the back post, only to be thwarted at his feet by the imposing Murray.
Buoyed by the way they ended the first period, Rangers were on the front foot from the first whistle in the second half.
Neat interplay involving Adam Bolder and Rowlands eventually ended with the ball finding Smith 20-yards from goal. With his back to goal, the young midfielder turned on a sixpence before unleashing a looping effort which beat Murray all ends up, only to bounce back off the face off the crossbar.
Rowlands was first to the loose ball, only to head over, under pressure, from the edge of the six-yard box.
In an action packed start to the half, the otherwise ineffective Jay Bothroyd glanced a header inches wide of Cole's far post in the 50th minute.
A minute later, his strike-partner Keogh seemed destined to open the scoring, only to pull his shot wide of the post from eight-yards.
Wolves were in the ascendancy and on 53 minutes, McIndoe - with the goal gaping - inexplicably fired wide from two yards out.
It was one-way traffic by now and moments after Cole palmed away Bothroyd's powerful free-kick, the deadlock was eventually broken.
Cole did magnificently well to claw Keogh's initial close range header out, but the Wolves striker made no mistake from the rebound, smashing the ball into the back of the net.
Keogh almost bagged a second 60 seconds later, but Cole produced yet more heroics with a superb save with his feet.
As Wolves mounted a second half assault, the young keeper thwarted Kightly with another top-drawer save at the midfielder's feet.
But he was powerless to prevent the former Grays Athletic star from notching his seventh goal of the season on 66 minutes, as the diminutive midfielder coasted through unmarked to slot home with ease from close-range.
Rowlands shot straight at Murray and Ray Jones fired a spectacular bicycle kick over in the dying moments, but the goal Rangers' performance probably just about warranted was not forthcoming.
Wolves: Murray, Collins, Olofinjana, Breen, Craddock, McNamara, Bothroyd (Ward 79), Potter, McIndoe, Kightly (Gleeson 83), Keogh (Little 90).
Subs: Davies, Hennessey.
Scorers: Keogh 55, Kightly 66
Bookings: Breen 70
QPR: Cole, Bignot, Bolder (Bailey 76), Rowlands, Lomas, Kanyuka (Timoska 59), Stewart, Furlong (R Jones 67), Nygaard, Smith, Milanese.
Subs: P Jones, Moore.
Bookings: Smith 64, Nygaard 70
Referee: M Pike
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