AYR were only four minutes from winning but ended up hanging on for a point after two incredible Brechin misses.
Boss Neil Watt revealed it was a bitterly disappointed dressing room but insisted it wasn't doom and gloom.
And he declared: "Getting a draw against a team who were in the play-offs last year is reasonably satisfactory. However, when you are 2-1 up away from home you hope you can hold on to it.
"We knew Brechin would throw everything at us in the last ten minutes but we are obviously disappointed to drop two points late on. It was slack defending from our point of view.
"Over the piece, a draw was possibly fair but it would have been nice to hold on the lead as we did against Hamilton in midweek. We didn't quite manage that today but it was a tough game and Brechin is a tough place to go."
Watt made a raft of changes to the team that beat Accies and his new look took only eight minutes to hit the front. Superb spadework by Andy McLaren fed David Hamilton and his cross from the right was headed home by the diving Michael Moore for his third goal in three games.
However, Ayr failed to build on that ideal start and there had been warnings aplenty before Brechin equalised in 32 minutes. The defence stood off Martin Johnston and he had time to curl an 18 yarder into the top corner.
The powerful running of Ryan Stevenson and the aerial ability of the tireless Moore were Ayr's two big plusses but their recast three man central defence never looked comfortable.
And they should have been further punished in 54 minutes when Iain Russell was given a free header from a Stuart Callaghan cross but fortunately for Ayr sent it straight at Mark McGeown.
Ayr suffered a blow five minutes later when McLaren collapsed when he made a sliding challenge on David White and had to be helped off with a knee injury. Alex Williams took his place.
Ayr regained the lead in 77 minutes with Stevenson again on target. He seized on Stuart Callaghan's error and strode forward before unleashing a left foot 20 yard rocket that hit the post and then diverted in off the back of keeper Craig Nelson.
That should have been game over but Brechin stepped on the gas and with four minutes left were level for a second time. Johnston flicked the ball on and Russell held off Eddie Forrest's challenge to smash a shot in off the bar.
Brechin now seized their chance and twice came close to winning in a grandstand finish. A Johnston rocket was touched on to the bar by McGeown but Russell blazed the loose ball high over the gaping goal. Then right at the death, Russell fired straight at McGeown when a steadier head would have hit the target. These were two massive left-offs and Ayr trooped off fortunate to have taken a point when three looked to have been in their grasp.
STAR MEN: ***Ryan Stevenson; **Michael Moore; *Stephen Swift.
BRECHIN: C. Nelson; R. Walker, S. Callaghan; S. Walker, White, Jancyzk; Byers, A. Nelson (Geddes 82), Johnston, Russell, Smith (King 70); Unused subs: Murie, B. Callaghan, McCluskey; Booked: Jancyzk, S. Walker, Russell.
AYR: McGeown; Forrest, Henderson, Robertson; Pettigrew, Hamilton, Stevenson, Casey, Swift; Moore, McLaren (Williams 59). Unused subs: Dunn, Vareille, Weaver, Corr; Booked: Stevenson, Moore.
Referee: John McKendrick; Crowd: 419.