Matthew Rose snatched Rangers' third win in a row with a last-gasp strike, to deny Brighton a share of the spoils in a pulsating encounter.
The former Arsenal defender curled in a left-foot shot from 20 yards in the first minute of stoppage time after the Brighton defence failed to clear their lines.
It completed a fine comeback from Ian Holloway's team, who trailed 2-1 with 15 minutes left.
Captain Kevin Gallen, dropped back into midfield in the absence of injury victim Marcus Bean, drove Rangers into a 16th minute lead.
He scored with a well placed shot from ten yards after a clearance from Brighton's stumbling skipper Danny Cullip rebounded into his path.
Albion were level seven minutes later when Adam Hinshelwood converted his first senior goal from a cross by Chris McPhee.
Brighton were ahead by half-time after Darren Currie added his first goal for the club a minute from the break. The former Wycombe midfielder beat Rangers keeper Chris Day with a super free-kick from 20 yards.
The home side looked on course for their third win in five games until Paul Furlong continued his rich vein of form in the 76th minute. The Seagulls defence was cut wide open when Furlong exchanged passes with Jamie Cureton and slotted his fourth goal in three games.
The teams, both promoted last season, seemed set for a point apiece until Rose popped up to leave Rangers blooming and Brighton wilting towards the wrong end of the table.