Early goals from Dean Bowditch and Shaun MacDonald twice gave the Glovers the lead at stadium:mk this afternoon.
Both times, the hosts replied with first Sam Baldock and then Peter Leven, after Terrell Forbes conceded a penalty, saved a point for the grateful Dons.
The game got off to a blistering start when Dean Bowditch was played in perfectly with a through ball from the Glovers midfield and calmly fired home after just thirty seconds stunning the home crowd.
The visitors failed to hold on though and in an astonishing beginning to the game, the Dons levelled after three minutes when Sam Baldock, finding himself with time and space on the left, coolly finished past Alex McCarthy.
Bowditch, brimming with confidence after his early goal, hit a free kick over the bar after Dean Lewington had fouled Gavin Tomlin outside the penalty box.
An extraordinary start to a game between two teams who tend to see plenty of goals in their games and incredibly there was to be a third goal after just sixteen minutes.
A lovely flowing move through the Yeovil midfield saw Tomlin play a great ball into Shaun MacDonald who remained unflustered to slot home for his first goal of the season.
The game could have turned five minutes later when Bowditch, clean through on goal and on the edge of the box, was scythed down by Dons defender David McCracken. Referee Paul Tierney deemed it a free kick rather than a penalty and a yellow card offence when a red card was the more likely punishment.
Powell came close with a header from an MK Dons corner when maybe he should have done better.
As the rain started falling, Yeovil more than held their own and Sam Williams almost set up Steven Caulker but the defender strayed offside.The home fans vented their frustration at half time with a volley of boos at the home side.
The second half began with a yellow card for Dons' Jason Puncheon for a two-footed lunge on left-back Nathan Smith before the home side finally fought their way back into the match.
Aaron Wilbraham, Peter Leven and Luke Howell all went close in a five minute spell as the Dons pressed for an equaliser and Leven rattled the woodwork with a header from another Puncheon corner.
A tiring Ryan Mason was subbed by manager Terry Skiverton who opted for a defensive change with George O'Callaghan coming on.
Chadwick saw an effort blocked by Forbes soon after but the pressure finally told on 65 minutes when Forbes brought Wilbraham down in the box. Leven took the penalty and hit it high into the net past McCarthy.
The Glovers replied immediately when Bowditch hit a free-kick from O'Callaghan wide of the left hand post.
It was to be thr former Ipswich striker's last contribution to the game as he was replaced by Jonathan Obika with seventeen minutes left.
Jean-Paul Kalala received his eighth booking of the season for bringing Lewington down but Nigel Quashie wasted the free kick.
With six minutes left on the clock, Obika's turn and shot was gathered comfortably by keeper Willy Gueret and a minute later Williams had a chance to seal it but saw his effort blocked after being set up by O'Callaghan.
The four minutes of time added on brought four corners for the hosts, all defended well by a resolute defence who earned a valuable point and stopped the recent run of defeats.