Fleetwood were torn apart by 21-year-old wing wizard Ryan Colclough as Uwe Rosler’s good friend Karl Robinson and his MK Dons side left the seaside with all three points.
Colclough had a hand in all four goals Rosler’s men slipped to their first home league defeat of the campaign.
Colclough opened the scoring in the ninth minute as he smashed the ball through a crowd of bodies and into the bottom corner in the ninth minute.
The Dons made it 2-0 in the 61st minute as Colclough steamed into the box from the left, he was robbed by Town full-back Conor McLaughlin but the loose ball fell to Dean Bowditch who knocked the ball past Jimmy Ryan who tripped him in the box.
The referee pointed to the spot and Bowditch fired the ball past Neal.
It was 3-0 seven minutes later as Colclough once again excelled on the left as he galloped into the box and with just Ryan and Chris Neal to beat rocketed the ball under Neal.
Town rallied and got a goal back a minute later as Bobby Grant’s effort flew in after David Martin’s dreadful attempt to palm the ball away.
But the Dons went on to add another in the 90th minute as Martyn Woolford tripped George Baldock in the box and Colclough stepped up to fire home the spot-kick and complete his hat-trick.
Before kick-off Rosler made two changes to the side that lost 2-1 at Rochdale.
Victor Nirennold was not even in the squad as he was dropped in favour of Ryan who had returned from his mystery knock and Ashley Hunter came in for Devante Cole who moved to the bench.
It could have been a different story completely had David Ball gobbled up an early chance.
Ball should have given Town the lead as he beat the offside trap to get into the six-yard box and connect with Hunter’s right wing cross but he nodded the ball over the bar with the goal at his mercy.
And Town were punished for not taking the chance moments later as the Dons took the lead.
Colclough stormed down the left and cut back on himself before curling the ball round McLaughlin and through a crowd of bodies into the bottom corner, it looked as though keeper Neal could have done better to stop the goal.
Bobby Grant was lucky to stay on the pitch after an off the ball tussle with Agard with both players showing the referee stud marks after appearing to kick each other whilst on the ground.
Rosler ended up kicking an advertising board in frustration after firstly Jimmy Ryan wasted a free-kick in a plum position by giving the ball straight back to the opposition and Grant ‘s set-piece from just outside the box flew harmlessly to safety.
But Town nearly got back in the game thanks to a slick training ground corner routine.
Ball drilled it in to Hunter on the edge of the box from the left, he slipped the ball to Grant but his first-time effort just curled over the bar.
On-loan Burnley man Chris Long worryingly trudged off down the dug out early in the 28th minute after receiving treatment on the pitch.
It was a dull first half for the Cod Army fans but Nathan Pond nearly got Town back into the game as his header from Ball’s right wing corner kissed the topside of the bar and rolled over in the 44th minute.
In the second half the lively Colclough continued to impress as he blasted the ball straight into Neal but skipper Pond was on hand to mop up the rebound
Pond passed the ball back to Neal and in a moment of madness he picked it up and the referee awarded a free-kick in the box but fortunately it came to nothing.
McLaughlin managed to nip the ball off Colclough’s toes after he had steamed into the box from the left but the loose ball fell to Bowditch who drew a foul from Ryan in the box as he rolled the ball past the midfielder who could not move as the striker drove past him.
Bowditch dusted himself down to step up and fire the spot-kick down the middle in the 61st minute.
Hunter was booked for a late challenge on Darren Potter and that was his last action as Rosler brought on the fresh legs of Cole in the 63rd minute.
Grant’s set-piece just needed a touch as it just flew past McLaughlin, Eastham and a hoard of red and white shirts in the box as Town tried to find a way back into the game.
One of the bright features of Rosler’s reign has been Town’s impressive counter-attacking play.
But it was a slick counter from MK that put the game virtually to bed.
It was route one football at its finest as a Town set-piece was hoofed back up the opposite end towards Colclough.
With both centre-halves and McLaughlin up for the set-piece Colclough was able to gallop down the left again and with only Jimmy Ryan in front of him he arrowed the ball under Neal in the 68th minute.
Like the first, it was a strike the keeper could have done better with.
But Fleetwood managed to reply immediately as McLaughlin rolled the ball back to Grant on the edge of the box and butter fingers keeper Martin could only parry the ball into the net in the 69th minute.
It should have been 3-2 seconds later as substitute Cole found himself one-on-one but could only poke the ball wide of the left stick.
The Dons’ star man Colclough was booked for simulation just outside the box after he dramatically tumbled under pressure from Pond
Grant curled one straight down Martin’s throat and Jakubiak, who came off the bench for Long to become Town’s 100th ever EFL player, impressed on debut but could only curl the ball just over as the clock ticked towards full-time.
But it was MK and Colclough who had the final say.
George Baldock was brought down in the box by substitute Martyn Woolford who had replaced the injured Dempsey and the referee pointed to the spot once again.
Colclough stepped up and completed his hat-trick with ease as he coolly slotted the ball past Neal.
Fleetwood: Neal, McLaughlin, Pond, Eastham, Bell, Dempsey (Woolford, 68), Ryan, Grant, Hunter (Cole, 63), Long (Jakubiak, 28), Ball. Subs not used: Cairns, Jonsson, Bolger, Duckworth.
MK Dons: Martin, Baldock, Lewington, Walsh, Upson, Potter, Bowditch (Carruthers, 73) Agard, Downing, Maynard, Colclough (G C Williams, 90). Subs not used: Reeves, G B Williams, Hendry, Nicholls, Tshimanga.
Referee: Robert Jones (Merseyside)
Attendance: 2518 (Away 247)