Paul Wotton scored only the second headed goal of his 12-year Argyle career to earn the play-off hopeful Pilgrims a point as they extended their unbeaten run to seven games.
Wotton has scored 62 goals for Argyle and all but the first and last have been from shots - normally trademark blockbuster free-kicks and penalties.
He rose to the occasion in the 22nd minute to nod Tony Capaldi's right-wing corner home at the far post as Argyle pummeled Ipswich following Sylvain Legwinski's first-minute opener.
The Frenchman broke free from his marker and stole to the near post to head home Matt Richards' inswinging corner which had been won after Billy Clarke's smart break down the right.
That was the only time Ipswich, who finished with ten men after Fabian Wilnis was dismissed late on, were on top as Ian Holloway's side took the game by the scruff of the neck.
A fierce long-range free-kick from Wotton hit the crossbar and Akos Buzsaky twice went close.
He tried to place the ball past goalkeeper Shane Supple but was thwarted by a late block before Supple made an athletic save from the Hungarian's curling free-kick.
Sylvan Ebanks-Blake had the ball in the net early in the second half but his effort was ruled out for offside and David Norris' low cross was nearly turned into his own goal by Wilnis, who was then dismissed for a second yellow card after pulling back Barry Hayles.
Norris' fierce shot was beaten out by Supple before Ipswich's half-time substitute Gary Roberts spectacularly cleared a Hayles volley off the line.
Despite six minutes of added time and the man advantage, Argyle were unable to break down the resilient Suffolk side and had to settle for the point that kept them in the Championship's top six.