Losses to high-flying Frolunda and Skelleftea had put an end to the four-match winning run that had put Malmo firmly in Playoff contention, but things weren't about to get any easier with a home match against fourth-placed Vaxjo.
But the Redhawks took the game to their opponents, having the majority of the scoring chances in the goalless opening period, but they were unable to take advantage with a pair of powerplays.
The visitors then hit back in the second period, and Malmo had goaltender Marek Langhamer to thank for 16 saves in those 20 minutes alone. But with just over three minutes of the match to go, the Malmo resistance was finally broken when Luka Elvenes was given time to pick his spot through the crowd.
That looked to be that, until just over a minute of the game to play, when Lauri Pajuniemi hammered a one-timer high into the Lakers' net, sending the match to overtime.
And the home side completed the turnaround with 01:38 played in the extra period - Carl Persson squared the puck to Fredrik Handemark, who got just enough on it to beat Ludvig Persson, despite the Vaxjo goaltender getting a big deflection on it.
The 2-1 loss is Vaxjo's second defeat in a row, though they are still seven points inside the top six and with a game in hand. Malmo move up from 10th to eighth, with four points separating them from Linkoping in 11th.
Djurgarden have moved level on points with Vaxjo after they beat Farjestad 1-0 in the battle between fifth and sixth in the standings, gaining revenge for a 5-3 loss on Saturday.
Colby Sissons and Marcus Kruger set up David Blomgren to put the Stockholm side ahead in the 15th minute of the match, before the home side survived plenty of Farjestad pressure to hold on for three points.
Magnus Hellberg made 28 saves in the match to earn a shutout and the win, with exactly half of those stops coming in the final period alone. The gap between the two sides has grown to six points once more.