The Blues entered this contest on the back of a shock 1-0 reverse at Goodison Park against Everton. Dropping any more points could lead to them slipping down into the race for the top-four.
Wolves, on the other hand, were humbled 3-0 by Brighton in a game where they conceded multiple penalties. With qualification to the UEFA Conference League yet to be played for, winning points would be great for them.
The game began in a tame fashion, with both sides exercising caution in their build-up play. Wolves defended with vigour, keeping their shape intact and causing Chelsea all sorts of problems. The hosts' midfielders put on a decent show, passing the ball forward and trying to drive towards Wolves' goal.
They appeared to have opened the scoring in the 32nd minute when Timo Werner slotted the ball into the net. However, the goal was ruled invalid as the German appeared to have committed a foul in the build-up.
Chelsea scored another goal, this time through Ruben Loftus-Cheek. Unfortunately for him, that goal was ruled invalid too after Romelu Lukaku's slight touch had played the Englishman offside.
Wolves did a great job frustrating the hosts and made it increasingly harder for them to find space in their half. Conor Coady and Romain Saiss led the charge as they put in some hard tackles. The sides went into the break deadlocked at 0-0.
Thomas Tuchel brought on Saul Niguez in place of Marcos Alonso for the second period. It seemed to be a tactical change to enable an attacking formation for Chelsea.
Romelu Lukaku continued to impose himself on the visitors' defenders, causing Romain Saiss several issues with his strength. He earned a penalty just before the hour mark after he was tripped.
The Belgian stepped up to tuck the ball into the net to make it 1-0 from the spot after 56 minutes. Chelsea's new owner Todd Boehly was seen celebrating as he enjoyed the club's first goal of his tenure.
Lukaku was on the scoresheet once again two minutes later. Christian Pulisic played the ball to him and he lashed in a well-placed shot into the bottom corner to make it 2-0 to Chelsea. Also, Reece James started getting more involved as the game progressed.
Bruno Lage brought on Hwang Hee-Chan, Chiquinho, and Francisco Trincao in a bid to reinvigorate Wolves' attack. His changes worked wonders as Chiquinho assisted Trincao to score in the 79th minute with a beautiful finish.
The goal seemed to add a spring in the visitors' footsteps as they dominated proceedings from that point onwards.
Hwang and Chiquinho caused havoc in the final third as Wolves continued to press high up. The officials added six minutes of stoppage time at the end of the game and that's when all the drama unfolded.
Chelsea seemed to have all but secured the three points as five of the six minutes had been played. They made the fatal mistake of taking their foot of the pedal which allowed the visitors to get into a great crossing position.
Chiquinho provided his second assist of the night as captain Conor Coady leveled the game after 97 minutes. As a result, the Wolves held Chelsea to a 2-2 draw. The hosts' awful run of form at home continues as they enter the tail-end of the campaign.
That said, let's take a look at player ratings from the game.
Chelsea Player Ratings
Edouard Mendy - 6/10
Mendy had a decent outing and made two saves. However, he conceded two goals in the final 15 minutes of the game.
Cesar Azpilicueta - 6/10
Azpilicueta made a combative start to what was a grueling encounter. He was booked for a foul just before the half-hour mark. He lost possession 17 times in a disappointing performance.
Thiago Silva - 7/10
Silva put in a typically solid performance in defense. He won seven of his nine duels, making five clearances, four interceptions, and two tackles.
Antonio Rudiger - 7/10
Rudiger had a decent game but could not do much with the pace of Wolves' substitutes as they scored two late goals to snatch a point.
Reece James - 6.5/10
James put in another good performance for Chelsea. He played three accurate long balls and one cross. James also attempted two shots which were narrowly wide.
Ruben Loftus-Cheek - 7/10
The Englishman seemed to have opened the scoring for Chelsea in the 38th minute. However, after a lenghty review, it was ruled out for offside.
Mateo Kovacic - 6.5/10
Kovacic was one of Chelsea's primary ball-carriers. He did well to advance the ball goalwards and nearly scored in the second-half. However, soon after, he gave the ball away cheaply which led to a goal for Wolves. Apart from that, he played four accurate long balls and had one shot on target.
Marcos Alonso - 6.5/10
Alonso had a decent game. He won four of his five duels. He also played two accurate crosses and long balls. The Spaniard was subbed off at half-time.
Christian Pulisic - 7/10
Pulisic looked lively and used his pace to his benefit several times. He provided the assist for Chelsea's second goal.
Romelu Lukaku - 8.5/10
Lukaku looked sharp and was eager to make an impact on the game from the start. His persistence was rewarded in the second half after he earned a penalty and scored from it. The Belgian then scored his second just two minutes later with a great shot.
Timo Werner - 7/10
He put his side ahead just after the half-hour mark. However, the referee pulled play back as he claimed Werner had committed a foul when there seemed to be little evidence to support it.
Saul Niguez - 6.5/10
The Spaniard came on in the second half and had a decent outing.
Malang Sarr & Kai Havertz - N/A
The pair came on as late-game substitutes and did not play enough minutes to warrant a rating.