Freedman is expected to be confirmed as the new incumbent of the Trotters' hotseat later this week after Championship rivals Crystal Palace announced earlier on Tuesday he had left Selhurst Park after agreeing a move to the Reebok Stadium.
And he will have watched with delight as midfielder Mark Davies returned to his former club to force an equaliser in the final minute when he superbly volleyed home from 12 yards.
It looked as if they were going to be downed by a two-minute turnaround by Wolves, with Kevin Doyle coolly finishing from Bakary Sako's fine pass in the 27th minute and then heading home a rebound 120 seconds later.
That Doyle double had overturned Bolton's lead after Benik Afobe had put the visitors ahead early on, but Davies had the final say to give Freedman plenty of encouragement.
Bolton will have been keen to impress following this afternoon's events and that was evident from the off as they started brightly.
Martin Petrov had Carl Ikeme scrambling across his goal with an effort from distance that went just wide in the opening 10 minutes.
Their dominance continued and they were rewarded in the 21st minute when a dangerous Petrov corner was not cleared and Afobe was allowed time and space to control the ball and poke home.
It was a worthy lead for the visitors but they were not to hold it for long as Wolves stunned them with a quickfire double to wrestle the advantage back.
They levelled in the 27th minute. Bolton managed to clear the ball after Roger Johnson had thundered a header against the bar but Sako fed Doyle and the Republic of Ireland international coolly slid the ball home.
And with the home fans still celebrating, they had another goal to cheer 90 seconds later when Adam Bogdan could only parry Sako's free-kick and Doyle was in the perfect position to nod home into an unguarded net.
Jermaine Pennant tested Bogdan's handling with another free-kick again soon after, but the Bolton keeper was even to it as Wolves enjoyed a dominant spell.
Bolton managed to get to the interval without suffering further damage and they were the better team after the restart.
Petrov had an effort saved by Ikeme, who was then called into much sterner action to skilfully turn Chris Eagles lashed effort around the post as the visitors probed for the leveller.
The influential Petrov was again denied by Ikeme, this time by his- legs, and then the Wolves keeper produced his best with a triple save, twice denying Eagles and them keeping out David Ngog.
But Ikeme could do nothing about the deserved leveller, which came in the 90th minute when Davies plucked the ball out of the air with aplomb, steadied himself and then fired home an unstoppable effort.