Nygaard pounced eight minutes from time as Rangers were rewarded for their never-say-die approach.
Twice they battled their way back on to level terms as Albion threw away a golden chance to make a return to winning ways following back-to-back defeat against Arsenal in the Carling Cup and Birmingham City in the Championship.
They looked set to cruise to all three points when Nathan Ellington and Diomansy Kamara fired them two up after 40 minutes.
But two goals from Damion Stewart and Kevin Gallen three minutes either side of half-time turned the game on its head and gave Rangers the belief they could take some reward from the game.
They still had to collect their share of the spoils the hard way as Kamara took his goal tally to eight in seven games when he fired Albion back ahead in the 54th minute.
But Rangers were not to be denied and they earned their reward when Nygaard headed home Lee Cook's cross.
It really was two points thrown away by Albion who dominated the game in terms of chances created only to be frustrated by the form of goalkeeper Simon Royce.
For Rangers though, this could be a season turning moment. They may have now gone five games without a win but the spirit they showed against Albion bodes well for their survival fight.
Ellington fired Albion ahead after Royce had done well to turn away a drive from Jason Koumas. Unfortunately for Rangers, Ellington pounced on the loose ball and rammed home his fourth goal of the season at the far post despite the best efforts of Royce.
Royce then kept Rangers in contention as he went on to deny Koumas, Zoltan Gera and Steve Watson before Kamara doubled Albion's advantage.
This time there was nothing that Royce could do as Kamara converted a cross from Koumas after holding off the challenge of Stewart.
That looked to signal the end of Rangers' challenge but Albion went to sleep in first-half stoppage time and paid a heavy price.
The lively Cook whipped in a right-wing cross and the unmarked Stewart volleyed the ball home at the far post for his first goal for the club since his summer move from Bradford City.
It was a setback that Albion struggled to get to grips with and Rangers stunned them three minutes into the second half when Gallen stabbed home his third goal of the season after a cross from Dexter Blackstock.
That setback served to spark Albion back into life and Kamara looked set to spare their blushes when he raced on to a pass from Ellington and stroked a low shot past Royce only for Nygaard to have the last laugh for Rangers.