Tommy Wright's hat-trick was not enough for Tamworth as they were pegged back three times by a spirited Telford.
Wright converted Lee Hendrie's cross to score his first, only for Ian Craney to level from close range.
The 28-year-old added his second from the edge of the area but Phil Trainer's header made it 2-2 before Wright headed home to complete his treble.
Jake Reid equalised again from close in before Lambs substitute Kyle Perry was sent off for a second booking.
VIEW FROM THE DRESSING ROOM
AFC Telford United manager Mark Cooper told BBC Radio Shropshire:
"We scored three goals today and we should be winning the game. Long balls into the box caused us a problem - we couldn't deal with it and you have to score three or four to have any chance.
"Tamworth have some big players up front and we shouldn't be giving their players room in the box because they will score. We are far too easy to score against at the moment.
"The players need to be mentally aware and be strong and confident when marking - it comes down to desire and that's something we will be working on before next week."