Daggers hearts were broken deep into stoppage time when defender Danny Foster brought down Wanderers substitute Sergio Raul Torres inside the box, allowing Jermaine Easter to equalise from the spot.
Daggers started brightly with Shane Huke flashing a shot narrowly wide of the Wanderers goal in the second minute.
Wycombe showed their class a minute later when pacy front-man Easter left Dagenham defender Anwar Uddin for dead and thundered a powerful strike inches wide from 20 yards.
Wanderers' keeper Scott Shearer almost presented the home side the gift in the 28th minute when he thundered an attempted clearance off striker Jon Nurse only to recover and scramble the ball to safety before it dropped into the net.
The home side finally broke the deadlock in the 32nd minute when Sam Sloma pounced on a fumble by Shearer and fired into the net from six yards.
The home side were on fire and made it two straight after the break when Chris Moore latched onto a superb Sloma through ball before slotting calmly past the on-rushing Shearer.
Ben Strevens almost made it three for the Daggers in the 54th minute when he glanced a powerful header just wide from a Sloma cross.
Wycombe dragged themselves back into the game in the 68th minute when Matt Bloomfield pounced on a loose ball in the Dagenham box to scramble it past keeper Tony Roberts from three yards.
The home side held on bravely until deep into injury time but were denied a historic victory when Foster had a rush of blood to the head and felled Torres inside the box.