Charlie Austin’s powerful header hauled QPR back into what was becoming an embarrassingly one-sided game at Molineux.
Austin netted eight minutes before the break after being found by Matt Phillips’ superb cross from the left.
The striker’s goal came after Benik Afobe and Kevin McDonald had scored to put Wolves in command.
An unmarked Afobe netted from close range on 17 minutes after James Henry’s ball into the box was deflected towards him.
Rangers had almost taken an early lead when on-loan Arsenal keeper Emiliano Martinez fumbled Massimo Luongo’s shot before gathering the ball at the second attempt.
After Afobe’s opener, the wet conditions meant Martinez was also troubled by a shot from Tjaronn Chery.
But Wolves were otherwise dominant and doubled their lead on 24 minutes when McDonald made the most of the time and space he was afforded by firing into the bottom corner from near the edge of the penalty area.
Alejandro Faurlin, back after a third cruciate injury in as many years, returned to the QPR starting line-up.
The popular Argentine and former Wolves man Karl Henry were overrun in midfield as the home side had things their own way before Phillips and Austin combined to give the visitors hope.
Subs: Lumley, Doughty, Hill, Hoilett, Gladwin, Polter, Emmanuel-Thomas.