Nineteen-year-old Julian Draxler had inspired a Schalke fightback from 1-0 down to 2-1 in front and only a succession of superb saves from Geoffrey Jourdren in the Montpellier goal kept the French side from being embarrassed.
Midfielder Draxler produced a cool finish midway through the first half to cancel out Karim Ait-Fana's early opener and then won a penalty after a brilliant dribble into the area at the start of the second.
Klaas Jan Huntelaar converted the spot-kick, although Draxler himself had to go off after picking up a nasty-looking injury in the foul which earned it. That foul also earned Montpellier defender Garry Bocaly a straight red card.
Schalke kept on creating chance after chance, but were made to pay for not taking them at the death as Camara struck to earn the visitors their first point in Group B.
The Royal Blues moved on to four points, two behind early leaders Arsenal.
The Germans started strongly and Huntelaar headed over from a Draxler free-kick in from the left.
Huntelaar's strike partner Teemu Pukki had a shot blocked inside the area from Mapou Yanga-Mbiwa before the visitors went ahead against the run of play.
Ait-Fana curled a wonderful effort into the top right corner from the left edge of the area in the 13th minute to leave goalkeeper Lars Unnerstall with no chance.
Schalke were not put off their stride, though, and Marco Hoger tested keeper Jourdren from long range, while the busy Draxler shot wide.
And it was the teenager who equalised in the 26th minute, receiving a pass from Huntelaar and rounding Jourdren before sliding the ball into the empty net.
Kyriakos Papadopoulos then headed wide as the hosts threatened a second before the break.
The Royal Blues came flying out of the blocks in the second half with Pukki seeing a shot tipped round a post by the overworked Jourdren.
And they took the lead in the 53rd minute with the impressive Draxler again at the heart of the goal.
He tricked his way into the area past three players before being unceremoniously brought down by Bocaly.
The Frenchman was sent off and Huntelaar duly dispatched a powerful penalty, but Draxler had to go off with what looked like a serious wrist injury, with Ibrahim Afellay coming on in his place.
There was no let-up from Schalke despite that blow, with Papadopoulos heading over from a Christian Fuchs corner and a Huntelaar volley from 18 yards bringing a fantastic parry from Jourdren.
The keeper excelled himself yet again to keep out a curler from Afellay before Camara shocked the hosts in the 90th minute.
Found by a pass from Jonathan Tinhan, he fired a low shot into the right corner to give Montpellier a barely-deserved point.