Town went into the game knowing a victory at the Brache would put them level on points with the Dons, but behind them on goal difference, with the visitors boasting a positive goal difference of 24 after 13 games.
Wimbledon took the lead with 35 minutes gone, but Callum Nicolson got them back on level terms three minutes later with a fine strike from outside the box into the bottom left corner, having been picked out by Joseph Halsey.
Coree Wilson added a second with 15 minutes to go as he squeezed the ball past the ‘keeper from a tight angle, with Ed McJannet making it three just two minutes later as he pounced to finish from close range.
Wimbledon got a goal back with six minutes to go, before they went onto get a third in the fourth minute of added time to grab an unlikely point.
The Town now sit in 6th place in the EFL Youth Alliance Under-18 South East division, with 19 points from 14 games.
Professional development phase lead coach Dan Walder said: "Wimbledon are a very strong side in this category, so to see the younger boys playing at under-18s level – we had three under-16s and one under-15s – they were a credit to themselves.
"I think there’s a lot of good players coming through, it’s been really good seeing the younger boys stepping up to u18s. We watch the under-16s and under-15s regularly, but you never know how they’re going to handle playing for the under-18s, but they’ve done really well.
"We were second best in the first half, but improved in the second half. We didn’t necessarily deserve to be 3-1 up and the boys worked hard try and not concede late on, but it’s a lesson for them.
"Coree Wilson scored again – he’s a good player. He has been with the club since he was seven and throughout his time here he has often played up a year. He contributes a lot to the team, his goalscoring record this season is very good, he links the play really well and when he come on at the weekend he got the ball forward."
Walder’s side are next in action at Leyton Orient on Saturday.
Watch the Town's goals here: