A 26th goal of the season for Kris Boyd and a double from Kyle Lafferty had set Rangers on their way to what looked like a comfortable victory.
But late drama saw Steven Jennings add to Jamie Murphy’s earlier strike before Lucas Jutkiewicz secured another dramatic late draw for the Steelmen with an injury time penalty.
On a day of farewells to Ibrox Stevie Smith and Nacho Novo were given run outs from the bench while Kirk Broadfoot, Kris Boyd and Davie Weir all made the starting line up as their contracts also neared completion.
With Lee McCulloch suspended and Kevin Thomson on the verge of collecting a ban that would see him miss the start of next season it was Steven Davis and Mo Edu that formed the central pairing.
It was Davis who started the Light Blues off as early as the first minute as he picked the ball up in his own half and sprayed a fine pass wide to Steven Naismith.
The midfielder delivered a decent cross that Motherwell defended well, clearing to the edge of the area where Steven Whittaker drove narrowly over the bar.
Davis was again the architect just moments later when he delivered a wicked corner that Davie Weir rose to head just wide of the upright.
It was a bright start from Walter Smith’s men but after those opening few minutes Ibrox experienced something of a lull.
It took Boyd’s opener to restore the party atmosphere as he did brilliantly to outmuscle Steven Saunders and turn the defender to slot home his 26th goal of the season.
That lifted Rangers and their fans and Kenny Miller and Boyd passed up decent chances within minutes of their side taking the lead.
However it was Motherwell who spurned the best opportunity when Lucas Jutkiewicz headed over from six yards from Jim O’Brien’s superb cross from the right.
That seemed to spark the home side again and Lafferty shot wide before creating a chance for Miller after more good work down the left.
With 27 minutes gone though Miller took a heavy touch from Sasa Papac’s cross and the opportunity was gone.
However the Scotland striker was sharper minutes later when he drove low to John Ruddy’s left from 20 yards only to see the Motherwell keep dive low to turn the ball behind for a corner.
It was unfortunate for Miller, but Rangers would not be denied a second in the first period with Lafferty the man to provide it.
He lost Tom Hateley in the Well box to meet Naismith’s cross and stab the ball home for his sixth strike of the season and fourth in seven matches.
The Light Blues almost found themselves pegged back within seconds of the restart when Hateley’s inswinging free kick was nodded just wide by Giles Coke.
However despite surviving that scare they did concede within a few minutes when half time sub Jamie Murphy rifled home from the edge of the area on 50 minutes.
Rangers were keen to restore their two goal cushion but Miller in his eagerness pulled up on one typically energetic forward burst, holding his hamstring.
He was replaced, to a rapturous reception, by Nacho Novo, and the little Spaniard almost contributed immediately to a third.
His ball wide picked out Naismith’s run and the wide man’s delivery found Boyd perfectly.
The Gers No.9 connected sweetly but Ruddy somehow managed to get enough on the ball to divert it over the top.
Not to be outdone, Neil Alexander produced a similarly sharp stop to deny Jutkiewicz at the other end just a few minutes later with Rangers protesting that their should have been an offside flag to stop the big striker’s progress.
Novo would provide a key moment though when he charged towards the Motherwell goal and eager to find the net on what might be his last appearance for the Light Blues aimed his effort towards the far post.
It was narrowly off target, but Lafferty was there at the back post to knock in to an empty net from a matter of inches for his seventh of the season.
There was plenty of appetite for a fourth for the Light Blues with Stevie Smith attempting a set piece effort shortly after replacing Lafferty as he looked to end his Gers career with a goal.
A dampener was almost thrown over the result with six minutes to go when Murphy stole away from his marker but headed straight at Alexander in the Gers goal.
And Rangers were made to pay for their failure to get a fourth when Motherwell did then get a late second.
Jennings capitalised on an error from Davie Weir to nod in to an empty net in the 90th minute then deep in injury time referee Brian Winter pointed to the spot when Murphy was judged to be felled by Alexander.
Jutkiewicz slotted past Alexander to earn a point that was ultimately not enough for the visitors to secure fourth in the SPL.