The 24-year-old Swede missed the target with his 17th minute spot kick but did much better in the 70th when he was left far too much space and curled the ball past keeper Koen Casteels from 20 metres for his third goal of the campaign.
His penalty miss was the fifth on this matchday, setting a Bundesliga record.
The result lifted Leipzig - the first Bundesliga newcomers since the 1964/65 season to be unbeaten after seven matches - into third spot on 15 points, level with second-placed Cologne.
It was Wolfsburg's sixth straight match without a win as the 2009 champions dropped to 14th on six points.
Mainz 05 moved up to seventh on 11 points after beating Darmstadt 98 2-1 away earlier on Sunday.
Bayern are in first place on 17 points after drawing 2-2 at Eintracht Frankfurt on Saturday.
(Reporting by Karolos Grohmann; Editing by Ken Ferris)
