Rangers were looking set for an impressive 2-1 win at Ipswich when substitute Daniel Haynes headed home in the last minute to rescue a point with a 2-2 draw.
Rs manager Ian Holloway said: "We had two breakaway chances in the second half that could have finished off the game and in the end it was disappointing to lose a goal so late.
"It was a cracking game but too end-to-end for my liking. I always felt that Ipswich were dangerous with their headers and both their goals came that way."
Stefan Moore opened the scoring for Rangers with his first goal for more than three months. Jason de Vos equal-ised but Paul Furlong looked to have won the game with his strike just before half time.
The win would have put QPR within three points of the play-offs but they will be looking to come back with avengance on Monday in front of the Sky cameras when they entertain Coventry (ko 7.45pm).
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