The captain notched twice in the final 15 minutes - a header from a corner and then a close-range - to complete a terrific turnaround in Nottinghamshire.
Rovers settled the quicker of the two sides and some tidy bits of play were evident before Harry Clifton saw a goal-bound attempt just take a nick behind for a corner in the game's first genuine attempt on 20 minutes. Glenn Middleton then planted a header onto the roof of the net after a quick counter from the visitors following a slip on the ball by a Mansfield man in his own half.
The hosts had to wait until after the half-hour mark for their first chance, and it was a rare error from new (old) boy Charlie Crew that created it; he was dispossessed near his own corner flag by a Stags player whose wicked cross was met by the stooping head of Louis Reed. Thankfully Thimothee Lo-Tutala was equal to it.
Rovers wrestled back control before the break and almost got a goal that their play deserved right before half-time when Brandon Hanlan was thwarted before Clifton then saw a shot turned behind.
The same player tried his luck with an acrobatic attempt just after the restart before Lo-Tutala produced a fine right-handed stop to keep out Will Evans' fierce shot from the right-hand side of the box. That proved a warning sign as just minutes later the hosts went in front when half-time substitute Stephen McLaughlin produced a long-range stunner that gave Lo-Tutala no chance.
Rovers made a triple change in response and one of them, Jordan Gibson, saw a half-chance come and go as his glancing header sailed over. Thankfully it wouldn't be long before Rovers were level: skipper Bailey got the vital touch as he headed home from a Molyneux corner.
The visitors seemed more likely to snatch a winner and it just had to be the captain who got it, with Bailey in the right place to stab home Molyneux's centre from close range. Here's our player ratings from Field Mill:
1. Tim Lo-Tutala 7
Alert to keep out a fierce Louis Reed header in the first half and then an even better stop to deny Evans second half. No chance with McLaughlin's wonder hit Photo: Howard Roe/ahpix.com
2. Owen Bailey 9
In at right-back again from the start, he landed heavily and awkwardly early doors. Put his head in where it mattered for the equaliser in a game where he popped up all over the park - and vitally right at the death for the dramatic winner. Photo: Howard Roe/AHPIX LTD
3. Connor O'Riordan 7
Another generally solid showing, with the giant loanee impressing once more in his partnership with Pearson. Provides a big threat from set-pieces too, as shown plenty here. Photo: Howard Roe/AHPIX LTD
4. Matty Pearson 7
Up against the lively Dwyer, veteran Pearson settled quickly with aerial dominance throughout. A no-nonsense showing from a no-nonsense kind of defender. Racked up double figures for headers won. Photo: Howard Roe/AHPIX LTD