Matthew Mills' own goal pushed Ipswich level on points with leaders Wigan.
Three minutes from the end the on-loan Southampton defender sliced the ball embarrassingly past Luke Steele.
Ipswich had taken a 70th-minute lead through man-of-the-match Dean Bowditch's cool finish before Patrick Suffo calmly lobbed Lewis Price.
In a entertaining opening period the Ipswich keeper made a superb save from Stern John's penalty, while Bowditch also hit the bar with half-volley.
Coventry boss Peter Reid:
"It is a cruel game sometimes but Matthew Mills
did a great job for us, like Luke Steele in goal, and mistakes will be part of their game.
"Without those two, though, we would really be in the mire so we are lucky to have
"I thought we passed it round really well and certainly shaded the
"We deserved to take something from the game and were very unlucky,
especially to lose by a mistake from a young player who has been otherwise fantastic
Ipswich boss Joe Royle:
"I felt for Matthew Mills. It was not the best way to win but I think we just
"I would not have been happy with a draw and we needed to start winning away
games if we are to keep challenging at the top.
"I thought Coventry were nervous after their recent results."
Coventry: Steele, Whing, Shaw, Mills, Staunton,
Morrell (Jorgensen 79), Doyle, Sherwood (Suffo 73), Hughes, Barrett (Gudjonsson 61), John.
Subs Not Used: Shearer, Giddings.
Goals: Suffo 77.
Ipswich: Price, Diallo, Naylor, De Vos, Richards, Magilton, Miller, Horlock, Bowditch, Bent, Kuqi (Westlake 76).
Subs Not Used: Counago, Barron, Sobers, Supple.
Goals: Bowditch 70, Mills 87 og.
Ref: C Penton (Sussex).