The Tangerines looked set to have to settle for a point until Charlie Adam and Stephen Dobbie plundered the points with two goals in four minutes to boost their bid for a play-off place.
Meanwhile the win leaves second-bottom Argyle, who Holloway walked out on in 2007 to take charge at Leicester, six points from safety.
Jason Euell replaced Brett Ormerod up front as Holloway made one change to the side that started the 5-1 thumping of fellow promotion hopefuls Swansea in midweek.
On-loan Dobbie, who missed the game due to his loan agreement, settled for a place on the bench.
Plymouth had to make one change from midweek with Chris Clark reverting to left-back in place of Chris Barker, who limped off with a hamstring problem during the win over Ipswich. On-loan Blackburn winger Alan Judge came into the starting 11 in Barker's place.
The hosts were forced to make another change inside the opening 10 minutes when they lost Carl Fletcher following a poor challenge from Keith Southern, who was shown the game's first yellow card.
But despite the setback Argyle could have taken the lead on 22 minutes when Blackpool goalkeeper Matthew Gilks had to be alert to Bradley Wright-Phillips' effort after Ian Evatt had blocked the striker's initial attempt on goal.
The visitors responded and Ben Burgess fired wide from Billy Clarke's corner before latter put an effort of his own over the crossbar from a decent position. In-form Adam then failed to test David Stockdale with some trademark long-range efforts.
At the other end Yannick Bolasie's shot from the edge of the area crept wide and Jamie Mackie should have done better, failing to force a save out of Gilks from deep inside the area as the first half ended goalless.
Blackpool blasted out of the blocks following the interval with both Burgess and Gary Taylor-Fletcher going close before Adam clattered the crossbar from long range.
The Tangerines would not have it all their own way and veteran defender Evatt had to produce another block to deny the lively Mackie, who also made Gilks work with another couple of shots on goal.
However, Holloway threw on substitute Dobbie and it would prove to be an inspired change as the Scot created one and scored one.
Dobbie first exchanged passes with Adam to allow the Scotland international to place his 16th goal of the season past Stockdale on 78 minutes, before latching on to Barry Bannan's pass to secure only a second away victory since Boxing Day.