Lolley's first-half strike looked set to have given Forest all three points on derby day but all the drama was to come in stoppage time. Martyn Waghorn was sent off in the fourth minute before Chris Martin smuggled the ball into the net two minutes later to earn The Rams a share of the spoils.
Sabri Lamouchi made two changes from the 1-0 win over Bristol City on Wednesday night as Samba Sow and Nuno Da Costa came into the starting line-up in place of Tiago Silva and Sammy Ameobi. Da Costa made his first start for The Reds since his January move from RC Strasbourg.
The early stages resembled a chess game as both sides felt each other out but Forest grabbed the lead on 12 minutes. Derby were slow to close Lolley down 25 yards from their own goal and he cut inside onto his left foot and shot through a crowd of players into the corner of Ben Hamer's net.
Lolley and Matty Cash linked up for the first time soon after and the latter delivered a devilish ball across the face of the Derby goal but the on-rushing Da Costa and Lewis Grabban were unable to get on the end of the cross to turn it into the net.
Derby were starting to see more of the ball as the first half progressed and a mistake from Brice Samba almost led to an equaliser. Craig Forsyth whipped a cross in from the left which Samba spilled inside his own six-yard box but fortunately, Joe Worrall was there to clear the danger with Chris Martin lurking.
The Rams were pushing to find a leveller just before half-time and Forest had to be alert to keep them out. Max Bird turned smartly inside the Forest penaty area but Worrall and Tobias Figueiredo got their bodies in the way to take pace off the strike and the ball rolled gently through to Samba.
The opening stages of the second half were tepid as both sides struggle to create any real momentum. Derby had the first opportunity on 63 minutes but Jayden Bogle hammered a shot wide of the target from the edge of the penalty area as Forest rushed out to close him down.
That chance for the home side seemed to wake The Reds up and Forest came close to doubling their advantage soon after. Ben Hamer was forced to get down low on two seperate occasions to push behind powerful efforts from Ben Watson and then from Lolley.
Forest seemed content to try and soak up the pressure and hit Derby on the counter-attack and it almost worked to perfection on 72 minutes. Ameobi's cushioned ball into the penalty area was perfect for Grabban's run but the striker fired his effort high and wide of Hamer's goal.
Silva had been introduced onto the pitch as part of a double substitution alongside Ameobi and he came inches away from finding Forest's second goal. The Portuguese picked the ball up on the edge of the Derby penalty area but curled his shot against the base of the post before Grabban sent the rebound effort over the crossbar.
Despite almost sealing the game at one end, Forest still had to be awake at the other. The ball broke kindly for Martin inside The Reds' penalty area but his shot on the turn was well held down low by Samba.
Forest, and Grabban in particular, were passing up chances to make the points safe. Cash pulled the ball back superbly for Grabban who was waiting on the penalty spot but with time and space on his side, he blazed his shot over the crossbar and into the North Stand of Pride Park.
In the fourth of six minutes of stoppage time, Derby striker Waghorn was shown a straight red card for a poor challenge on Yates as he went over the top of the ball and raked his studs down the midfielder's legs.
The drama wasn't over though as in the 97th minute, a cheap free kick allowed Derby the chance to get it into the box. The ball wasn't claimed by Samba, allowing Derby to head it back across goal where Martin was on hand to scramble it just over the line, with goal-line technology confirming the equaliser.
Forest: Samba; Cash, Figueiredo, Worrall, Ribeiro; Watson (c), Yates, Sow (Silva 59'); Lolley (Diakhaby 76'), Grabban (Mighten 90'), Da Costa (Ameobi 59')
Subs not used: Smith, Carvalho, Jenkinson, Semedo, Dawson
Goal: Lolley 12'
Bookings: Ameobi 90', Ribeiro 90', Worrall 90'
Derby: Hamer; Bogle, Evans, Clarke, Forsyth (Lowe 81'); Bird (Whittaker 89'), Rooney (c); Holmes (Jozefzoon 66'), Sibley (Shinnie 81'), Knight (Waghorn 66'); Martin
Subs not used: Roos, Davies, Malone, Brown
Goal: Martin 90'
Booking: Sibley 80'
Sent off: Waghorn 90'
Referee: Darren England
