Wolves extended their unbeaten run in all matches to 14 games but they were left frustrated as Helder Costa and Diogo Jota both had goals ruled out for offside with Jota also hitting the bar.
It left Wolves on 62 points from 27 games with Derby moving up to 52 after Matej Vydra's 16th goal of the season and other strikes from Johnny Russell and Andreas Weimann saw Gary Rowett's side defeat his old team comfortably.
Cardiff City, third in the standings on 50 points, ended a four-match losing run to heap more pressure on bottom club Sunderland with a 4-0 victory.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
All the action unfolded after a goalless first half with a brace from Callum Paterson and other goals from Joe Ralls and Anthony Pilkington heaping more misery on Chris Coleman's side, who also had Didier Ndong sent off after the break for a foul.
Bristol City, fresh from a fine performance in defeat to Manchester City in the League Cup semi-final first leg, suffered a setback in their promotion chase when James Maddison's 79th minute goal earned Norwich City a 1-0 win at Ashton Gate.
Aston Villa leapfrogged Bristol City to move into fourth place, with both sides on 47 points, after a 1-0 win at Nottingham Forest in the day's late game.
Six days after Forest had knocked out holders Arsenal in the FA Cup, Aitor Karanka's first match as manager ended in disappointment with Scott Hogan heading home Villa's winner.
(Reporting by Ian Chadband, editing by Pritha Sarkar)
