From the opening exchanges the Owls team containing five teenagers looked up for the task, and after taking the lead on three occasions, they more than deserved to go through on spot kicks.
Aaron Morley and Max Conway missed the crucial penalties for the Whites – but their performance over 90 minutes had done very little to warrant a positive result.
Jordi Osei-Tutu, Thierry Gale and Amario Cozier-Duberry had levelled the game after Charlie McNeil, Ike Ugbo and Reece Johnston had inched the visitors ahead.
As expected, Schumacher made extensive changes, with Osei-Tutu the only survivor from the weekend’s win against Plymouth Argyle.
First starts were granted to Tyler Miller – the goalkeeper whose trial was turned into a one-year contract on the day of the game – Charlie Warren, Daeshon Lawrence and Ethan Erhahon.
Wednesday only had 12 senior players available and with their weekend game at Stoke City in mind they too made 10 changes, giving five debuts and naming eight academy players in their starting line-up.
It wasn’t quite Junior Whites territory, but it wasn’t far away.
They may have started the night as rank outsiders, but from the off, the young Owls attacked with energy, pressing all over the pitch. Bolton’s infinitely more experienced side seemed startled by the speed at which their opponents set off and struggled to find their mark.
Josh Dacres-Cogley started on the left side of defence and it was a heavy touch as he shifted the ball on to his favoured right which led to the opening goal.
Although there were protests of a foul on the Whites defender, Gui Siqueira continued undeterred to drive an unstoppable shot into the top corner to send a large and noisy contingent of travelling fans into raptures.
That should have acted as a wake-up call for Bolton. Erhahon drove a shot straight at Pierce Charles from distance and Chris Forino looped a header from Aaron Morley’s corner wide of the post. Otherwise, the Owls looked comfortable in their shape, repelling pretty much everything thrown at them.
Suddenly, another moment went in the away side’s favour. Charlie McNeil picked the ball up just outside the box and drew a challenge from Inwood which left ref Oliver Langford with no option but to show a straight red.
It was a sorry end to the night for the young defender, who had looked quite assured to that point, and that also spelled the end for Lawrence, who was replaced by George Johnston.
Wanderers could hardly have claimed to deserve their leveller, supplied by Osei-Tutu with a close-range header from Dacres-Cogley’s cross. At that point in the game they were very much second best.
They had little time to dwell on being level, in any event. Just two minutes later Ike Ugbo rolled out of a challenge from Osei-Tutu and beat Miller with another smart finish.
For a few moments it looked as though Bolton would muster a response. Mendes Gomes teed up Erhahon for a low shot that was pushed aside by Charles, and Warren should have done more with the follow-up, sending his shot straight back at the prone keeper.
John McAtee then brought Charles back into play with the next attack, driving a low shot that had him skidding across goal to make the save.
Bolton’s dire half nearly got worse when Forino went thundering into a challenge on halfway to leave Bruno Fernandes – not him – in a heap. The Owls man had to limp off and referee Langford held up a rather lenient yellow card.
One can only guess what choice words Schumacher gave his players at the break. Many of them would have been echoing around the concourse of the East Stand after what had been a desperate 45 minutes.
Max Conway came on to offer a tad more balance to the side in the second half, Dacres-Cogley dropping back over to the right. Wednesday continued to make the best chances, however, and keeper Miller had to make a smart save to deny Olof Kobacki.
The US keeper had a few nervy moments with the ball at his feet which didn’t help the uncertain mood brewing among the home supporters. And by the hour mark Steven Schumacher had to throw on Mason Burstow and Thierry Gale in full game-saving mode.
Amario Cozier-Duberry was also given the rescue job with 15 minutes to go, and nearly got Wanderers on level terms with his first touch, combining well with Dacres-Cogley but having his shot blocked on the line by Ernie Weaver.
With some of the heavy hitters now on the pitch, the tempo picked up. Gale instantly looked lively and it was the Barbados international who turned superbly to provide the equaliser, his first goal for the club.
When McNeil passed a relatively simple chance wide at the far post seconds later, you wondered whether the Carabao Cup Gods were smiling on Wanderers. Their defending had been sub-par all night, however, and when Reece Johnston was allowed to raid unchecked into the area, he managed to poke the ball under the onrushing Miller and into the bottom corner.
Home fans looked on in disbelief. Some of the away supporters were feeling the same way. But there was still time left for another twist in the tale.
Just as the fourth official held up three minutes of stoppage time, the ball was worked out to Cozier-Duberry whose instant intent was to race inside and get a shot off with his left foot. And what a shot indeed.
The ball rocketed into the same top corner that Siquiera had hit in the first half, and suddenly we were heading for penalties.
Aaron Morley saw his penalty saved by Charles, who had a touch of luck as the ball bounced off the post and back into his grip. McNeil then dinked an audacious effort to put the Owls ahead.
Cozier-Duberry rifled his effort home, as did Jamal Lowe.
Mason Burstow drilled his penalty down the centre before Max Lowe sent Miller the wrong way to make it 3-2.
Charles saved from Max Conway, leaving the experienced Palmer to step up to score the winner.