Manager Danny Cowley named an unchanged starting line-up for a third successive game as the Imps looked to make it nine games unbeaten with a positive result against an Aldershot side who started the game sitting sixth in the Vanarama National League table.
Aldershot kicked off attacking the Stacey West Stand but it was the Imps who were the first to press; Theo Robinson an Harry Anderson combining before the latter's ball into the box was deflected inches over Matt Rhead's head six yards out.
A bright start by City continued with a looping Alan Power cross being missed by Shots 'keeper Jake Cole under pressure from Rhead but despite dominating the opening 10 minutes, the Imps were hit by a counter-attack which saw the Shots take the lead.
A cross from the right was met by Scott Rendell who saw his header superbly kept out by Paul Farman but the ball ran kindly for the visitors with Idris Kanu on hand to rifle the ball into the top corner from six yards out.
In the 18th minute Anderson was taken out by Nick Arnold who earned himself a yellow card and a couple of minutes later the offside flag robbed Robinson after great work by Anderson saw him open up the Shots defence.
The flag stayed down shortly afterwards, however, as Anderson's deft chip over the top of the visiting defence found its way to NATHAN ARNOLD who levelled with a sublime finish over the advancing Cole.
A combination of Farman and Sean Raggett denied Mensah before a trip by Callum Reynolds on Anderson saw the visiting number 22 see yellow. Waterfall saw his header from the resultant free-kick claimed by Cole.
As the half-hour approached the Shots 'keeper was at full stretch to palm away a Rhead header after Sam Habergham swung the ball into the mix but on the half-hour mark NATHAN ARNOLD superbly rifled home his second of the game after showing great alertness to reach a ball over the top before drilling first time across, and past, Cole.
Aldershot looked for a quick response with a swift attack ending with Raggett clearing a cross out for a corner under pressure from Rendell. Referee Martin Coy then spoke to the two captains following some push and shove in the box as the Shots prepared to take the flag-kick.
As the half-time interval approached a stray pass in the Shots' defence let in Robinson but he fired over the bar as Cole came off his line to narrow the angles.
HT: IMPS 2 ALDERSHOT 1
Both teams emerge unchanged for the start of the second half so it was as you were as City restart proceedings.
The first action of the second period came in the form of a substitution as Jack Muldoon replaced Harry Anderson, who clearly looked to be struggling following his first half knocks.
The second action came in the form of a goal; and it went to Aldershot in the 51st minute as, after the Imps failed to clear their lines, Cheye Alexander curled home a fine left-footed leveller from just inside the box.
The goal clearly knocked City who looked shell-shocked as they tried to re-establish themselves as the dominant force. A lengthy break in play as Aldershot's Bernard Mensah needed treatment after falling heavy after an aerial challenge with Wood gave them time to chat and regroup.
On the hour mark Rhead picked up a harsh yellow card following a challenge on Reynolds and four minutes later Terry Hawkridge replaced Nathan Arnold.
A scrappy period followed but this changed in the 72nd minute when a loose ball in the City box fell kindly to Scott Rendell and the experienced striker coolly slotted the ball home to edge his side back in front.
Before play restarted Elliott Whitehouse replaced Alan Power and he was quickly in the action, winning a free-kick out of Jake Gallagher who certainly took his time before getting back to his feet to defend the set-piece.
With 10 minues on the clock Rhead knocke a Hawkridge cross back across the box before the ball was scrambled out for a corner. This was taken after a lengthy spell of treatment for Raggett after he took a knock in the previous attack.
At the other end and with time quickly running out, Woodyard conceded a free-kick in a dangerous position but the set-piece was fired straught at Whitehouse in the City wall.
A minimum of six additional minutes was indicate by the Fourth Official and in the first of these Jim Kellermann replaced Matt McClure for the Shots. Dion Conroy was then booked for kicking the ball away.
The clock ticked towards its final seconds, Kanu went to ground looking as though he was suffering from cramp but referee Coy was happy to let play continue. City duly took advantage and when a long ball forward from Farman caused problems for the visiting defence, there was MATT RHEAD to hook home a dramatic leveller.
The hosts' frustration boiled over with a member of the coaching staff sent to the stands before Kanu was replaced by Jack Saville as the players clashed on the half-way line.
The game eventually ended after over nine extra minutes with Rhead's late effort seeing the Imps salvage a point which extended the unbeaten run to 10 matches.
HT: IMPS 3 ALDERSHOT 3
1 Paul FARMAN
2 Bradley WOOD
3 Sam HABERGHAM
5 Luke WATERFALL
8 Alan POWER
9 Matt RHEAD
12 Harry ANDERSON
25 Sean RAGGETT
28 Nathan ARNOLD
30 Alex WOODYARD
31 Theo ROBINSON
4 Elliott WHITEHOUSE (for POWER 73)
7 Jack MULDOON (for ANDERSON 50)
10 Adam MARRIOTT
11 Terry HAWKRIDGE (for ARNOLD 64)
27 Jamie McCOMBE
GOALS: ARNOLD (21, 30), RHEAD (90+6)
BOOKING: RHEAD (60)
1 Jake COLE
2 Nick ARNOLD
5 Will EVANS
9 Scott RENDELL
10 Matt McCLURE
11 Bernard MENSAH
12 Cheye ALEXANDER
16 Jake GALLAGHER
18 Dion CONROY
19 Idris KANU
22 Callum REYNOLDS
3 Anthony STRAKER
6 Jack SAVILLE (for KANU 90+8)
8 Charlie WALKER
17 Jim KELLERMANN (for McCLURE 90+1)
25 Mark SMITH
GOALS: KANU (10) ALEXANDER (51), RENDELL (72)
BOOKINGS: ARNOLD (18), REYNOLDS (28), CONROY (90+3)
REFEREE: Martin Coy
ASSISTANTS: Paul Evans & Tom Hancock
FOURTH OFFICIAL: Wayne Chalmers
ATTENDANCE: 3,461 (159 visiting supporters)