Ricardo Batista saved three shoot-out penalties to earn ten-man Wycombe a place in the fourth round of the Carling Cup.
In a seesawing game, Doncaster took the lead through Jonathan Forte only for Stefan Oakes to equalise.
Doncaster thought they had won the tie in extra time through a contentious Sam Stockley own goal which looked to deflect off Graeme Lee only for Jermaine Easter to equalise minutes from the end.
Wycombe were out of the blocks quickest in the first half and almost got off to a perfect start after just five minutes when Oakes' stunning volley was heroically headed off the line by Jason Price.
On-loan Chelsea youngster Anthony Grant almost went one better minutes later but his curling shot from 25 yards was just tipped over by keeper Ben Smith, who was making his professional debut.
It was Doncaster who should have taken the lead though on 25 minutes. Forte raced on to a precise through ball from Price but fired straight at Batista's legs when one-on-one.
Doncaster continued to improve and should have led going into the break after Lewis Guy's cross from the left found Price, whose shot from point blank range was well saved by Batista.
Wycombe started the second half strongly and Matt Bloomfield headed over a cross from just five yards out before Forte had a goal ruled out for offside just after.
The goal which did finally break the deadlock was a masterpiece. The ball come into Guy on the edge of the box, Sean McDaid dummied before Guy flicked to Forte, who blasted in an unstoppable left-foot shot.
After waiting so long for the first, the Wycombe equaliser was another stunner. Oakes dispatched a thunderous free-kick from 30 yards which flew into the top corner leaving Smith with no chance.
Oakes immediately let himself down though with a dangerous late challenge on Brian Stock which was enough for Rob Styles to show him a straight red card on 74 minutes.
Wycombe responded well to the setback though and Bloomfield should have secured the lead when his effort from close range was saved by keeper Smith.
The Chairboys continued to battle well as Doncaster dominated and the game went into extra time.
The away side's second goal came from a Stock free-kick. The unlucky Stockley headed towards his own goal and Lee deflected it in for what seemed like the winner.
Wycombe battled valiantly though with Easter hitting the bar before taking the game into penalties when he went one better by blasting home a Kevin Betsy cross.