In an exciting first half, Wycombe gave notice of their intentions when Jermaine McSporran beat the offside trap in the first minute and crossed for Sean Devine but Nathan Clarke redeemed the Town defence by intercepting and then clearing.
The Wanderers were not taking prisoners but the Terriers were not going to lie down either.
Kevin Gray exemplified the first half spirit with some excellent tackles to deny McSporran and Devine after the opening period.
With Kenny Irons finding his his range with sprayed passes and Thorrington causing problems for Wycombe down the right flank it seemed a matter of time before goals would come.
After 28 minutes, John Thorrington was released by Jenkins who attacked the midfield along with Chris Holland.
The American winger raced upfield and unleashed a firey shot from out wide which forced Martin Taylor to parry but the rebound fell to Leon Knight who had an easy tap-in with an open goal in front of him.
Their lead was doubled less than 10 minutes later when Delroy Facey's overhead kick with his back to goal fell kindly for Kevin Gray who powerful downward header beat Taylor.
2-0 up and Town were cruising though Darren Currie reminded them that Wycombe were still a threat when he ambled past two defenders but could only shoot straight at Margetson shortly after Gray's goal.
Town could have been 4-0 up by half time as two chances fell for Delroy Facey and Danny Schofield in first half injury time.
Facey rattled the bar with a powerful close range effort which Schofield forced Taylor into a diving save.
It couldn't get much better than the first half and it seemed as though Town were about to succumb to another dire second half performance as they appeared to lose their confidence under a renewed Wycombe assault after the restart.
Wycombe hauled themselves back into the contest after 5 minutes of the second half when Steve Brown capitalised on a poor pass from Nathan Clarke to Danny Schofield.
Wanderers intercepted and Brown's left footed effort took a wicked deflection to beat Margetson.
Town were under the cosh and, despite efforts by Thorrington and Facey to extend their lead, it looked as though the Terriers would have to weather 40 minutes of torrential rain and Wycombe pressure.
Leon Knight was frustrated at the lack of service and didn't help his cause with a needless booking for petulance during the second half.
A dive in the middle of the second half didn't endear him to the referee either.
Town kept pressing on, with Kenny Irons finding the target with some shots on goal but denied by Martin Taylor.
With less than 10 minutes left it looked as though Town had decided to try and hold on to their slender lead when they replaced Gareth Evans with Thomas Heary
Wycombe kept coming and earned their equaliser with less than 4 minutes of time to go.
Darren Currie's corner appeared to go straight in past an unsighted Martyn Margetson in the Town goal.
The Welshman was impeded by his own defenders in the goalmouth melee.
It was a deflating experience for the travelling Town fans, to see a 2-0 lead evaporate over the course of a frustrating second half, but they were about to be rewarded for their long journey with an amazing injury time recovery.
With the scores level - 2 goals each - it seemed as though the Terriers would have to make do with a point when it seemed that they had done enough to earn all three.
Three minutes of injury time had been announced and it looked as though Town would have to defend stoutly to earn their point.
Instead, they ended up taking all three points after Leon Knight popped up in the area to stroke the ball home after Thorrington had blazed a trail into the area.
It was sheer drama and, despite the pitch invasion that followed Knight's winner, there was more drama to come as, in the final minute of added time, Kenny Irons belted a 4th goal for Town from a set piece.
Read Doug Thomson's match report in the Examiner on Wednesday - have your say on what this result means for Town's promotion hopes in the messageboard below. Seclected comments may be published in the Examiner.
Wycombe (4-4-2): Taylor, Vinnecombe, Ryan, Devine, McSporran, Rogers, Currie, Bulman, Simpson, Senda, Brown
Subs not used: Roberts, Townsend, Holligan, Leach, Lee
Scorers: Brown 50, Currie 86
Town (4-4-2): Margetson, Jenkins, Clarke, Evans (Heary 82), Gray, Thorrington, Schofield, Holland, Irons, Facey, Knight
Subs not used: P. Senior, Moses, Hay, Wijnhard
Booked: Knight, Evans
Scorers: Knight 28, 90; Gray 37, Irons 90
Referee: Richard Beeby (Northampton)
Attendance: 5,546 (401 Away)
Match points follow on subsequent pages.
94 mins: Town continued to push on deep into injury time and Kenny Irons added insult to injury for Wycombe by scoring another free kick!!
92 mins: Leon Knight popped up again after Thorrington pushed into the area - he shot and scored in injury time and the pitch was invaded by ecstatic Town fans!
91 mins: 3 minutes of added time were indicated as Town pushed on!
90 mins: Wycombe won another free kick but it was wasted - straight at Margetson.
89 mins: Thorrington forced a save out of Taylor as Town tried to grab the winner.
89 mins: Currie's shot was well saved by Margetson as rain poured down over Adams Park.
88 mins: A long ball flew into the box, Margetson watched the ball fly wide.
87 mins: Town almost got back straight away but Leon Knight slipped up.
86 mins: Margetson missed the corner in the melee and Wycombe were level direct from Currie's corner!
86 mins: Clarke blocked a Wanderers shot in torrential rain as Wycombe lay seige to Town's area.
85 mins: Margetson palmed a dipping, curling shot away!
84 mins: Knight was narrowly offside as Facey fed the ball through.
83 mins: Town were trying to hold onto their lead by holding up the ball and playing it into corners.
82 mins: Thomas Heary replaced Gareth Evans, who had played well, as Town tried to tighten things up.
81 mins: Town were leaving enough space for Wycombe to continue pressing for the equaliser. Evans tackled McSporran and Danny Schofield tidied up.
77 mins: Facey held up the ball and crossed bu Knight couldn't make up the ground.
75 mins: Wycombe attacked - Currie crossed and Margetson caught.
73 mins: Irons won the ball and had a pop on goal from 30 yards - it drifted over.
71 mins: Thorrington's long ball was too far for Facey and Taylor collected with Knight in acres of space.
70 mins: Knight was booked for a petulant display.
69 mins: Margetson smothered a bobbling ball after a free kick for Wycombe took another deflection - the game was getting very tense.
68 mins: Senda was dispossessed by Irons - Town were getting back into the second half.
67 mins: Knight beat three defenders and danced into the area before going down acrobatically as the ball drifted away from him - the referee ignored calls for a penalty from the youngster.
66 mins: Senda conceded a corner after a good Facey run.
65 mins: Jenkins' cross was met by a firm Facey header which flew wide.
64 mins: Thorrington's run was stopped by a foul - the American protested vociferously before the free kick was awarded.
62 mins: Currie hit a free kick over the bar.
59 mins: Town were coming to terms with the renewed Wycombe attack.
56 mins: Sean Devine struck a sweet shot which somehow failed to find the back of the net - Wycombe fans were vocal in their support as Town wilted.
54 mins: Thorrington raced in to the area with the ball but he let the ball get away and Taylor clutched at the precious ball.
53 mins: Wanderers were up for it and begin to pressurise Town.
52 mins: Facey was blocked as Town tried to come back immediately.
50 mins: Nathan Clarke's pass for Danny Schofield was poor and Wycombe intercepted - Steve Brown went forward and struck a left footed effort which took a deflection and went in.
49 mins: Senda was harried by Schofield and then fouled by Gareth Evans. The Terriers had to defend a free kick.
48 mins: Brown was all alone with the ball as Wycombe came out with more purpose but Town held firm.
47 mins: Currie was herded out of play by Evans.
A standing ovation greeted Town's players as they went 2-0 up at Adams Park in an outstanding first half.
Jermain McSporran woke the Terriers up with an early test of Margetson and his defenders after Wanderers slipped the offside trap. Nathan Clarke made the interception with Devine lurking. This time, they paid attention.
Leon Knight pounced on a parry by Martin Taylor after John Thorrington had struck a shot from out wide on 28 minutes following interplay from Jenkins and Holland.
Kevin Gray doubled the lead when he headed home Delroy Facey's overhead kick on 37 minutes after his first effort was poorly cleared.
While Wycombe were always dangerous, Darren Currie went past two defenders and struck the ball straight at Margetson, it was Town who could have extended their lead at the end of the first half when Delroy Facey struck the bar and Danny Schofield made Martin Taylor palm the ball away.
47 mins: Schofield forced a one handed parry from Taylor after his strike appeared goal-bound.
46 mins: Schofield tracked back to dispossess Senda and fed Facey for a lightning counter-attack which unfortunately petered out.
45 mins: Facey hit the bar with a very solid strike!
44 mins: Knight tried to get round the Wycombe defenders but Ryan put the ball out of play.
43 mins: Simpson was penalised for catching Knight who made the best of the foul.
43 mins: Thorrington went inside with the ball and managed to find Schofield who fired over the bar.
41 mins: Facey was penalised for backing into a defender as Jenkins took a throw-in.
40 mins: Jenkins' free kick was poor.
39 mins: Town were too slow to react to Darren Currie's run, past two defenders, into a scoring position from which he could only strike straight at the midriff of Margetson.
37 mins: Facey's overhead kick/cross fell to Kevin Gray who headed downwards with power and notched Town's second goal.
34 mins: Irons was tripped on half way but Town wasted possession through Jenkins and Thorrington's bad throw-in routine.
33 mins: Knight was in space and crossed for Facey but Taylor came out to gather after a back header from one of his own defenders.
30 mins: Rogers desperately blocked as Facey bore down on goal and hammered a chance which should have made it 2-0.
29 mins: Evans was booked for a challenge on Devine 25 yards out. Wycombe tried to make use of their golden chance but it was wasted.
28 mins: Thorrington sent in a firey shot from out wide after a great run down the right but the effort was repelled by Taylor only as far as Leon Knight who couldn't miss!
27 mins: Rogers cleared after he prevented Knight from going round him.
25 mins: McSporran went in late again on Gareth Evans.
23 mins: An ambitious overhead kick from Thorrington would have made a superb goal but the American failed to connect.
21 mins: Irons hit a 50 yard pass which found Thorrington who tried to play Jenkins in but the move broke down.
20 mins: Clarke cleared after a dangerous looking cross flew in.
19 mins: Gray made a couple of excellent challenges with McSporran and Devine lurking as both sides gave no quarter in the tough midfield struggle for supremacy.
17 mins: Devine's shot was blocked as Town defended stoutly.
17 mins: Bulman and Thorrington traded tackles in midfield as Wycombe looked dangerous on the break.
15 mins: Knight was fouled after passing to Jenkins. The young striker flew through the air after being tackled by Vinnecombe who was booked for his troubles.
13 mins: Knight was infuriated and hit the ball away after being penalised - he was lucky to escape a booking.
10 mins: McSporran was late on Evans and Town won a free kick but Facey was beaten by the flight of the resulting free kick.
8 mins: Knight was tackled by Devine after he tried in vain to find some space in which to pass the ball.
6 mins: Evans beat Senda but the Wanderers wing-back put the ball out.
5 mins: Jenkins held up the ball and sparked an attack but Brown cleared.
3 mins: Thorrington found some space and crossed for Delroy Facey but the burley striker couldn't get a clean connection.
2 mins: Town had to regroup quickly after an early Wycombe attack almost caught them napping at the back.
1 min: Jermaine McSporran broke free but wasted a perfect chance to score in the opening seconds.