Viv Solomon-Otabor rescued a point for Blackpool with an equaliser in the fourth minute of stoppage time.
The Seasiders appeared to be heading for another damaging home defeat but the winger came off the bench to net a last-ditch equaliser.
Plymouth had raced into a two-goal lead at the end of the first half thanks to goals from Ruben Lameiras and Graham Carey.
But Gary Bowyer's men showed spirit and character to fight back in the second half, with Colin Daniel getting one back before Solomon-Otabor struck at the death.
Argyle offered very little during the 90 minutes but as soon as they applied a bit of pressure, Blackpool wilted and conceded.
Gary Bowyer’s men remain 15th in the table, having won just one of their last 12 games.
Blackpool, still smarting from their Boxing Day defeat to Scunthorpe United where they conceded inside the first 60 seconds, made a much brighter start to proceedings at Bloomfield Road.
Gary Bowyer’s men forced a couple of early corners and produced the first shot on target of the day, Kelvin Mellor volleying over the bar against his former club.
The Seasiders could consider themselves slightly fortunate when Ben Williams avoided a card after bringing down Ryan Taylor, who had beaten him to a ball over the to.
Argyle were given a free kick in a dangerous position just a yard outside the box, but Andy Taylor put his head where it hurts to clear.
Danny Philliskirk looked for a repeat of his long-range goal against Scunthorpe but he could only shoot straight at Remi Matthews from just outside the box.
Viv Solomon-Otabor, unavailable for selection on Boxing Day due to a disciplinary matter, was brought back into the fold and with just 25 minutes on the clock was brought off the bench to replace the injured Andy Taylor.
The winger, on loan from Birmingham City, almost made an instant impact when he cut inside his man inside the Plymouth box and curled just wide of the far post.
The visitors had offered very little in the opening exchanges but, five minutes before the interval, took the lead with their first shot on target.
Ruben Lameiras did well to cut inside his man before shooting low into the bottom corner with a smartly-taken finish, although there will be question marks over Ben Williams’ positioning once again.
Sean Longstaff tried to find an instant response for the Seasiders but his drilled effort was comfortably claimed by Matthews in the Argyle goal.
Instead of drawing themselves level, Pool found themselves two goals down at the break thanks to a wonder strike from Plymouth’s Graham Carey.
The midfielder latched onto a hopeful ball over the top and, without even looking, sent a looping volley over Williams and into the top corner from what looked like an impossible angle to score from.
While Williams was far too slow to get down to Plymouth’s first goal, there was absolutely nothing he could do to stop this strike from ending up in the back of his net.
Blackpool were given a lifeline just ten minutes into the second half when Colin Daniel got them back into it with a well-taken strike.
Argyle failed to clear their lines from a corner and Daniel sent his shot through a crowded box and into the far corner.
This prompted a spell of pressure from the Seasiders although they struggled to create any clear-cut chances.
Instead, it was the visitors who almost restored their two-goal lead with what appeared to be a sitter for former Seasiders David Fox.
The midfielder found himself unmarked at the far post but he could only send his header across the face of goal and onto the foot of the post.
Blackpool thought they had a good shout for a penalty when Danny Philliskirk was brought down in the box, but instead referee Ross Joyce awarded a free kick on the edge of the box - a free kick that Jay Spearing sent well over the bar.
Dolly Menga went close to levelling within minutes of coming off the bench, sending a curling effort towards the top corner but a Plymouth defender got in the way to clear for a corner.
Blackpool threw the proverbial kitchen sink at Plymouth in the dying stages and it paid dividends when Solomon-Otabor found the back of the net in the fourth minute of added time to earn his side a point they more than warranted.
Blackpool: Williams, Mellor, Tilt, Robertson, Taylor (Solomon-Otabor), Spearing, D'Almeida (Menga), Longstaff, Daniel, Philliskirk, Gnanduillet (Delfouneso)
Subs not used: Allsop, Anderton, Ryan, Cooke
Plymouth: Matthews, Threlkeld, Edwards, Bradley, Sawyer, Fox (Jervis), Songo'o, Diagouraga, Lameiras (Grant), Carey, Taylor (Sarcevic)
Subs not used: Cooper, Miller, Ainsworth, Wylde
Referee: John Brooks
Attendance: 3,417 (566 Plymouth)