The first half was generally bereft of chances and goalmouth excitement and it was something of shock when Cheltenham took the lead on 37 minutes, Gavin Caines rifling home after Ashley Vincent's header from a Martin Devaney free-kick had been saved by Frank Talia.
Wycombe's goal had been fortunate to survive that long as a Shane Duff header had hit the home woodwork in the 29th minute.
The equaliser came in the 70th minute. Ex-Celtic winder Steve Guppy sent over a teasing cross and Nathan Tyson glanced in a header past the diving Shane Higgs for his tenth goal of the season.
As the game entered the closing stages both sides had chances to win all three points.
The Robins had two excellent chances in stoppage time. Substitute Kayode Odejayi allowed Talia to smother from six yards following an excellent run and cross from Steve Guinan. Then right-back Brian Wilson found the goal at his mercy eight yards out but Mike Williamson brilliantly blocked his shot.
The home side too were unlucky not to snatch all three points at the death when Roger Johnson thundered a header against the bar after a Guppy corner but the thrilling action in stoppage time was completely out of sync with the rest of the game.