The Jets took the lead with a Joel Griffiths penalty just before the 20-minute mark before Argentine Adrian Trinidad hit back with a spot kick of his own prior to half-time.
Glory captain Jamie Coyne then put one in the back of his own net when the game resumed, the goal coming from a Jin-Hyung Song shot which gave the visitors the ascendency.
Jets coach Gary van Egmond was content with a point but knew the outcome could have been completely different.
"We we're 3-2 down in injury time, and you get out with the draw, you should be feeling lucky.
"But I'm not feeling lucky at all. I'm feeling that game should have been dead and buried well and truly prior to that.
"When you're not ruthless in front of goal and you don't go on with it, you invite the other team back in and that's exactly what we did."
Newcastle currently sits second on the A-League table with their two draws whilst Perth props up the rest of the competition due to some unfortunate luck.