Darren Currie marked a dream debut with his first goal for the Club as Town staged another sensational second-half fightback.
Jason De Vos put Blues ahead midway through the first-half but Rangers stormed back into the game with two long range strikes from Paul Furlong to give the home side the advantage at the break.
Darren Bent equalised before the hour after good work by Currie, on as a second-half substitute and the new signing from Brighton then put Town ahead with a curler from the edge of the box.
Shefki Kuqi made it four with 15 minutes to go with the three points keeping Town right up behind Wigan at the top of the table.
The only disappointment in 90 exciting minutes at Loftus Road was a yellow card to Kevin Horlock which rules him out of the clash with the Latics.
Joe Royle kept with the same side that started at Crewe last week and Town kicked off in similar fashion to that second-half display at Gresty Road, taking the game to the opposition.
Jim Magilton sent a 30 yard drive over the bar inside the first minute, then Ian Westlake was denied by a smart save from Chris Day.
Town were completely in charge of the early exchanges and Rangers' 'keeper Chris Day was called into action on 10 minutes, diving low to prevent Tommy Miller's 18 yard strike hitting the net.
Day then tipped over Richard Naylor's header from a Magilton corner before frustrating Bent with another save after the Town frontman had latched on to a Kuqi flick on.
It was no more than Town deserved when De Vos gave Blues the lead on 25 minutes, the Canadian international heading the ball in from four yards following another Kuqi header on, Rangers failing to clear the danger on at least two occasions.
QPR levelled things up though within a minute with virtually their first attempt at goal, a 25 yard wonder strike from Furlong.
The former Birmingham striker them made it two with another drive from the edge of the box to take his tally to 13 goals for the campaign.
Rangers, boosted by the about turn in fortunes, finished the half the stronger and Kevin Gallen was first denied by Kelvin Davis, then wasted a second opportunity, volleying wide at the far post before seeing a third drive fly high and wide over the bar.
As the game entered injury time, Gareth Ainsworth went down under a challenge from Fabian Wilnis but referee Carl Boyeson waved away the penalty appeals.
As at Crewe last week, Matt Richards replaced Drissa Diallo at the break and within three minutes of the restart, Town should have been level, Bent firing wide after Kuqi had sent him clear.
With Horlock picking up his booking soon after Town's goal, the midfielder made way for new boy Currie and he made an immediate impression on the game, sending the ball forward for Kuqi who chested it down for Bent , his shot deflected past Day for the equaliser.
Davis then saved well from Gallen before Currie became the flavour of the month at Town with his first goal for the Club, cutting in from the left and finding the net with a right foot finish, the ball taking a slight deflection before beating Day.
Rangers boss Ian Holloway threw on Jamie Cureton and Martin Rowlands as they chased the game but before they had time to make an impact, Kuqi extended Blues' lead, sweeping the ball in following a throw-on into the home team's box.
Currie continued to revel in his first appearance for Town and almost grabbed a second goal, Day tipping over his long range effort.
Town always looked the more likely to score again and Bent should have made it five just before the end, rolling his shot wide after a counter-attack.
Not that Blues were complaining with the win setting up that home game between top and second when Wigan come to Portman Road on December 21, where victory for Town would leave the Club top of the Championship at Christmas.
Town line-up: Davis, Diallo (Richards 46), Naylor, De Vos, Wilnis, Miller, Magilton, Horlock (Currie 53), Westlake, Kuqi, Bent. Subs not used: Bowditch, Supple, Counago. Goals: De Vos, Bent, Currie, Kuqi. Booked: Horlock.











