Sako struck in the 64th minute after goals from James Perch and Marc-Antoine Fortune had put Wigan in control following a Dave Edwards opener.
Wigan have now gone six games without a win since their 4-0 victory against Birmingham on August 30.
They looked set to end that bleak run when Perch equalised two minutes after Edwards had struck on the half-hour mark.
Fortune then put Uwe Rosler’s side ahead in first-half stoppage time before Sako grabbed a deserved equaliser.
Wolves were well worth their share of the spoils after dominating the second half and could easily have gone on to win the game.
But manager Kenny Jackett will be concerned that his side have now leaked eight goals in their last three games, picking up just two points in the process.
After distinctly tepid opening, Wolves right-back Matt Doherty attempted to inject some urgency into proceedings only to his goalbound drive in the 14th minute be blocked by Wigan defender Ivan Ramis.
The Spaniard suddenly found himself at the centre of attention as Wolves enjoyed a bit of a purple patch and the he picked up the first booking of the game after he tried to stop Tommy Rowe with a rather rash lunge right in front of referee Andy Davies.
With chances few and far between, Wolves did look to carry the greater threat and winger Sako finally forced goalkeeper Scott Carson into action after 18 minutes when the former England international did well to hold on to a fierce cross shot at his near post.
But there was nothing that Carson could do when Edwards broke the deadlock.
Welsh international Edwards, who had been recalled to the starting line-up, was left unmarked 12 yards from goal and steered his header from a Rajiv van La Parra cross beyond the stranded Carson.
It looked to be the signal for Wolves to take control of affairs, but Wigan came up with the perfect response to stun Molineux.
Just as Wigan’s defending for Edwards’ left a lot to be desired, Wolves backline were also caught out when Perch struck.
After Wigan won a free-kick on the right hand edge of the penalty area, Shaun Maloney floated over a cross and Perch rose above the static Wolves defence to give goalkeeper Carl Ikeme no chance with a header from just two yards.
Wigan were a different proposition after Perch’s strike and took control of affairs on the stroke of half-time.
After Andrew Taylor whipped in a left-wing cross, Wolves central defender Richard Stearman missed the ball and right-back Scott Golbourne could not get there in time to prevent Fortune beating Ikeme with a rising drive at the far post.
The timing of the goal could have deflated Wolves but they came out at the start of the second period in determined mood with former Wigan striker Nouha Dicko and Sako both going close to grabbing an equaliser.
Sako did finally find a way through the Wigan backline – but in somewhat fortuitous circumstances.
James Henry took a swing at Golbourne’s left-wing corner and missed the ball before it ran to Sako who side footed home a left-footed shot from the edge of the area through a crowded goalmouth.
That signalled a spell of intense Wolves pressure with Carson tipping away a header from Edwards and Doherty seeing his 87th-minute header bounce off the bar in a frantic finale.