There were then two quickfire chances for Sarr to double that lead, but the Senegal forward was unable to control a deflected cross in the first instance before curling just wide from a slack Wolves pass at the back.
Palace were made to pay moments later. A long ball forwards saw Cunha win his duel with Chalobah, and the Wolves forward was free to square for Stand Larsen to atone for his earlier error from close range.
Glasner's side responded well, and only a close-range block prevented Mitchell from slamming home a volleyed finish at the far post.
Kamada also shot wide when well-placed – but then Wolves struck again, as Joao Gomes side-footed home from inside the area following Goncalo Guedes’ deft lay-off.
The scoreline was a harsh reflection on the game as a whole, and Sarr was denied twice in quick succession by Sa as Palace continued to carve out good chances.
Indeed, Glasner’s side deservedly drew level just four minutes later, again from a set-piece: Kamada curled a corner in, Muñoz flicked on at the near post, and Marc Guéhi turned home at the far stick.
That set up a grandstand finish at Molineux, as both sides frantically sought out a winner, attacking directly and committing bodies forwards whenever the opportunity arose.
It could have produced a winner five minutes into injury time when Mateta teased in a low cross from the left.
Sa’s hands and Muñoz’s outstretched boot both vied for it – and when the ‘keeper was unable to claim cleanly, Mateta was on hand to sweep home into the unguarded net, only for the whistle to sound for a foul. VAR checked it. The referee’s initial verdict of 'Foul' stood.
Palace – at the end of a second-half thriller in Hallowe'en week – were forced to settle for a point, but one which extended their run to three matches unbeaten in all competitions.
Wolves: Sa (GK), Semedo, Bueno, Dawson, Toti (Bellegarde, 63), Ait-Nouri, J. Gomes, Doyle (Lemina, 62), Sarabia (Guedes, 62), Cunha, Strand Larsen.
Subs: Bentley (GK), Doherty, Pond, Andre, R. Gomes, Forbs.
Palace: Henderson (GK), Muñoz, Chalobah, Lacroix, Guéhi, Mitchell, Hughes (Doucouré, 80), Kamada, Sarr (Schlupp, 89), Nketiah (Clyne, 84), Mateta.
Subs: Turner (GK), Matthews (GK), Clyne, Kporha, Devenny, Umeh, Agbinone.
As It Happened