Down 3-0 halfway through the second period, the Flames toed the game before the second intermission thanks largely to the inspired play of Tanguay, Jarome Iginla and Daymond Langkow.
Tanguay's second of the night 3:46 of third period put Calgary into the lead. Wild goaltender Niklas Backstrom shovelled the puck behind his net for Nick Schultz, but it bounced over the stick of the Wild defenceman. Jarome Iginla corralled the puck and zipped a pass out to Adrian Aucoin at the face-off dot, whose slapshot was deflected in by Tanguay in front.
Robyn Regehr added his first of the year on a slapshot from the blue-line five minutes later to give the Flames some insurance.
Iginla and Dion Phaneuf also scored for Calgary (5-3-2). The Flames are 5-1-1 in their last seven.
Brian Rolston, Mark Parrish, and Wes Walz replied for Minnesota (7-1-1). The Wild are the last NHL team to suffer a regulation time loss.
The opening two periods were really two different games.
After spotting the Wild a 3-0 lead after 20 minutes, Calgary roared back in the second scoring three times in a span of less than five minutes with Tanguay a principal figure in all three of the goals.
On Iginla's goal at 10:33 that got the Flames on the scoreboard, it was Tanguay jostling with Backstrom at the top of the crease, blocking Backstrom's view of the shot from the Flames captain. An irritated Backstrom argued in vain with the referees afterwards that he was interfered with.
At 14:05, Calgary narrowed the deficit to one when Aucoin and Tanguay combined to set up Phaneuf, who cut into the slot and fired a shot that caromed in off Wild defenceman Brent Burns.
Tanguay tied it with his first of the season on a pretty set-up from Iginla. Langkow forced Martin Skoula into a turnover deep in the Wild end and Iginla quickly moved the puck across to Tanguay who had an open net. It was the first goal in 18 games for Tanguay dating back to last season.
Early penalties proved costly for the Flames as Minnesota scored on consecutive power-plays inside the game's opening six minutes to stake themselves to an early 2-0 advantage.
With Eric Godard in the penalty box, Rolston started the scoring on his fourth of the season at 3:16 ripping a hard slapshot from the top of the faceoff circle past Miikka Kiprusoff.
Flames defenceman Rhett Warrener was penalized shortly after and the Wild again took advantage with Parrish redirecting Kim Johnsson's point shot past Kiprusoff.
Minnesota made it three goals on five shots at 9:41 when Walz neatly one-timed Branko Radivojevic's pass into the top corner.
Calgary's penalty killers rebounded nicely killing off the next seven Minnesota power-plays to protect the victory and redeem themselves for the shaky start.
Backstrom had 19 saves. The sophomore goalie had entered the night second in the NHL in goals against average (1.48), second in wins (5), and third in save percentage (.943).
Kiprusoff was perfect over the final two periods to end the night with 16 saves.
Notes: Backing up Kiprusoff was Matt Keetley, recalled Tuesday from Quad City when the Flames demoted Curtis McElhinney. In his only NHL action, McElhinney relieved Kiprusoff Monday against San Jose and yielded a goal on two shots in 23-plus minutes. McElhinney made his first start for the baby Flames Wednesday against Milwaukee but things did not go any better getting pulled after giving up four goals on seven shots... Calgary LW David Moss (head) returned to the line-up after missing one game bumping Eric Nystrom to the press box... Backstrom entered the game 26-1-3 in his career in games in which Minnesota led in the game at any point.