Bent's header gave Ipswich a half-time lead and Miller converted an early second-half penalty to put the Tractor Boys in control.
But Ipswich's deficit was cut in half when Dave Jones' side hit back through Seyi George Olofinjana, who scored with a diving header.
Ipswich boss Joe Royle:
"I thought we were outstanding and we played with excitement and verve. We are averaging two goals a game, and are second in the league
"We defended properly - apart from the goal which came from a great delivery.
"But apart from that, for the third game running Kelvin Davis has not had a save to make."
Wolves boss Dave Jones:
"We have had to dig in deep and play players who are learning their trade.
"When you have no competition in your football club sometimes when you want to change it you can't, and we have not been able to.
"The two-week break will be a big plus for us."
Ipswich: Davis, Diallo, Naylor, De Vos, Wilnis, Miller,
Magilton (Dinning 70), Horlock, Westlake, Bent, Kuqi.
Subs Not Used: Bowditch, Price, Counago, Barron.
Goals: Bent 28, Miller 50 pen.
Wolverhampton: Jones, Lescott, Clyde (Sturridge 68), Craddock, Naylor (Andrews 85), Cameron (Cooper 45), Ince, Olofinjana, Newton, Miller, Clarke.
Subs Not Used: Oakes, Lowe.
Goals: Olofinjana 54.
Ref: P Crossley (Kent).