Alan Smith's late winner settled a thrilling game at Elland Road.
Leeds led early on through Michael Duberry's header and Mark Viduka's acrobatic overhead kick - and looked in control of this basement battle.
Foxes keeper Ian Walker had to keep his side in the game with some superb saves before Paul Dickov's drive and Muzzy Izzet's rocket levelled matters.
Leeds were rocking but Smith had the last word with a close-range finish before Viduka's late red card.
The home side, who had needed a win to keep alive their hopes of staying up, had moved skipper Dominic Matteo into midfield, with Duberry taking his place in the centre of defence.
Leicester, who were unbeaten in six games going into this fixture, brought back James Scowcroft and Steve Guppy for Paul Dickov and Lilian Nalis.
After a cagey opening, the match burst into life on 11 minutes.
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KEY MOMENTS
11 mins: Duberry heads Leeds in front
13 mins: Viduka's overhead kick makes it 2-0
77 mins: Dickov pulls a goal back for the Foxes
79 mins: Izzet levels with a powerful effort
86 mins: Smith grabs the winner for Leeds
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Johnson's corner was not properly cleared and he lifted another curling cross into the area for Duberry to head home.
Two minutes later it was 2-0. Alan Smith failed to connect with a ball bouncing around the Leicester penalty area but then prodded the ball to Viduka - who swivelled to beat Walker with an acrobatic finish.
At the other end, the Foxes forward line had little to work with, but through their persistence they at least began to find a foothold in the game.
The Foxes continued to work hard after the restart, and Robinson was again called into action to palm away a fierce 25-yard drive from Steffen Freund.
But Leeds were creating the better openings, with Walker having to work hard to keep his side in the match.
He produced three fine saves to deny Smith - his best being a dive to his right to push away a low shot heading for the bottom corner.
Leicester kept battling and got their reward on 77 minutes when Marcus Bent found Dickov in space in the box and he produced a tidy finish.
And two minutes later it was all-square when Izzet was allowed to advance unchallenged towards goal and crashed his shot into the top-corner from 25-yards.
With Leeds in pieces Bent could have put the Foxes ahead but dragged his shot wide - and Robinson somehow kept out Peter Canero's first-time effort.
The game had one final twist left however, when Smith latched on to Viduka's knock-down to smash the ball past Walker for the winner.
Viduka was sent off late on for a second booking after kicking the ball away - but that did not detract from the value of his side's victory.
They remain second-from-bottom in the table but are now level on points with Leicester, who are one place above them.
Leeds: Robinson, Kelly, Caldwell, Duberry, Domi, Pennant,
Seth Johnson, Matteo, Milner (Harte 88), Smith, Viduka.
Subs Not Used: Carson, Radebe, Lennon, Simon Johnson.
Sent Off: Viduka (90).
Booked: Milner, Viduka.
Leicester: Walker, Scimeca, Heath, Dabizas, Thatcher,
Scowcroft, Freund (Nalis 76), Izzet, Guppy (Dickov 37),
Ferdinand (Canero 76), Bent.
Subs Not Used: Coyne, McKinlay.
Booked: Thatcher.
Attendance: 34,036.
Referee: M Dean (Wirral).