Sheffield Wednesday grabbed a stoppage time equaliser at Hillsborough after Zavon Hines' late goal appeared to have earned the Sky Blues a vital three points.
Centre-back Richard Wood headed home deep into stoppage time to deny City the win they looked to be heading for when on-loan striker Hines came off the bench to score spectacularly in the 84th minute.
Chris Coleman made just one change for the match, selecting Richard Duffy for his first appearance since re-signing for City on loan, the Welsh international replacing Isaac Osbourne at right-back.
Wednesday started the game brightly, pressing City back and looking to get an early stranglehold on proceedings and in the sixth minute, skipper Richard Wood headed just wide from a corner.
On the counter attack, City broke rapidly down the left through Julian Gray who played a neat one-two with Mifsud before forcing a decent stop from Owls keeper Lee Grant.
Graham Kavanagh came close to giving the home side the lead in the 13th minute when he produced a snap shot from the edge of the area, which had Kasper Schmeichel wrong footed but just went wide of the post.
The game continued as an end to end affair and on 29 Simpson linked with Mifsud and stung the fingertips of Grant with a well struck shot from 20 yards.
Just before the interval Brian Laws was forced into a change as Adam Bolder replaced Sean McAllister.
The Sky Blues seemed to have a decent shout for a penalty shortly after the break when Duffy was upended by Tommy Spurr but the referee waved the appeals away.
The lively Franck Songo'o was causing City plenty of problems down the Owls' right and he sent a powerful shot flashing narrowly over the crossbar as the game continued in a similarly open fashion.
The Sky Blues continued to play some good counter attacking football and Mifsud produced a good save from Grant in the 65th minute after more good interplay with Simpson.
But the Maltese striker was in Chris Coleman's bad books when he broke the offside trap and raced through on goal, only to hesitate in pulling the trigger before losing possession. Moments later City's top scorer was brought off by the Coventry boss and replaced by Zavon Hines.
And it was the loan man who scored what appeared to be the decisive goal in the 84th minute, smashing a sweet volley past Grant from 12 yards after Jermaine Johnson had failed to clear a Robbie Simpson cross.
But the Owls did not give up and grabbed a share of the spoils in the dying moments when Wood got a glancing header onto Tommy Spurr's long throw-in, which evaded Schmeichel and nestled in the far corner of the net.
Sheffield Wednesday: Grant; Kavanagh (Watson 76); O'Brien (Slusarski 83); Burton; McAllister (Bolder 45); Beevers; Wood; Johnson; Spurr; Sahar; Songo'o. Subs (not used): Burch; Gilbert;
Booked: Wood (16)
Coventry City: Schmeichel; Fox; Ward; Hughes; Doyle; Mifsud (Hines 75); Tabb; Simpson; Gray (Osbourne 90); Dann; Duffy. Subs (not used): Marshall; Hall; Thornton
Booked: Duffy (23)
Referee: Mr G Laws
Attendance: 21,110
