The hosts trailed by two goals after Petur Knudsen and Géza Dávid Turi struck for the Faroe Islands, but Sergey Maliy and Nuraly Alip scored within eight minutes of each other to rescue a point for Kazakhstan.
Knudsen puts Faroe Islands ahead
The visitors made the stronger start and broke the deadlock in the 22nd minute.
Petur Knudsen found the net to give the Faroe Islands a 1-0 lead and put Kazakhstan under pressure on home soil.
Kazakhstan were unable to respond before half-time, leaving the visitors with a narrow advantage at the interval.
Turi doubles the visitors' advantage
The Faroe Islands extended their lead in the 63rd minute when Géza Dávid Turi scored to make it 2-0.
Kazakhstan suddenly faced the prospect of another defeat after losing 2-1 to Moldova three days earlier.
However, John van ’t Schip's side responded immediately.
Maliy sparks Kazakhstan comeback
Kazakhstan pulled one goal back in the 68th minute through Sergey Maliy.
The goal gave the hosts renewed belief and shifted the momentum of the contest.
Five minutes later, the Faroe Islands were reduced to 10 men when Martin Agnarsson was sent off, further increasing the pressure on the visitors.
Alip completes dramatic comeback
Kazakhstan took full advantage of their numerical superiority.
Nuraly Alip equalised in the 76th minute, completing a remarkable comeback from 2-0 down and bringing the score level at 2-2.
The hosts then had another setback when goalscorer Maliy was sent off in the 85th minute, leaving both teams with 10 players for the closing stages.
Neither side could find a winner, and the points were ultimately shared.
Kazakhstan 2-2 Faroe Islands
• Kazakhstan: Sergey Maliy 68', Nuraly Alip 76'
• Faroe Islands: Petur Knudsen 22', Géza Dávid Turi 63'
Kazakhstan remain fourth in Group C3
The draw leaves Kazakhstan on two points from four matches in Nations League Group C3.
They had previously drawn 1-1 with the Faroe Islands before losing to Slovakia and Moldova, meaning Tuesday's comeback at least stopped a three-match losing run.
The Faroe Islands, meanwhile, move to four points, keeping them ahead of both Moldova and Kazakhstan in the group.
Slovakia remain firmly in control of Group C3 after four matches.
Van ’t Schip frustrated despite comeback
Kazakhstan head coach John van ’t Schip acknowledged after the match that his team had rescued a point but felt the result represented two points dropped.
The comeback nevertheless demonstrated Kazakhstan's resilience after they had fallen two goals behind.
With the Nations League group phase approaching its final two matchdays, Kazakhstan will need maximum points from their remaining fixtures if they are to improve their position in Group C3.