The Tykes have been galvanised of late with Tuesday's win over Dean Saunders' men making it eight wins in nine matches in all competitions.
Wolves took the lead at Oakwell through Bjorn Sigurdarson and the visitors came close to extending their advantage when Jamie O'Hara's shot struck the underside of the crossbar.
However, Barnsley fought back in the second half and claimed the points thanks to goals from Chris Dagnall and Jacob Mellis, extending Flitcroft's remarkable run in the process.
"Getting out of the bottom three was the first objective I set," he said. "Five or six wins on the spin and now we are out of it and we are looking up.
"It is the teams above that start thinking they are safe around Christmas. We have got the momentum. We keep applying more pressure on the bottom 10 and that is the aim.
"It was an incredible win. You could feel the pressure at the start of the game because of the run we have had. I said to the lads at half-time we just needed one goal. Once we got that I knew we would win the game."
Barnsley have an FA Cup quarter-final against Manchester City on the horizon and Flitcroft was pleased his troops responded positively to their mouth-watering cup tie.
"The performance after getting an incredible draw in the FA Cup was superb," he continued. "That's why the win is incredibly big, we have had get back to earth.
"On Sunday night I was dreaming of the Wolves team and Manchester City, I had Sylvan Ebanks-Blake linking up with Sergio Aguero. So I had a sleepless night!"