Separated only by goal difference in the Premier League table, the two teams played out as tight a first half as the standings would suggest, where the biggest talking point was Villa being denied a penalty when Elliot Anderson appeared to pull back Morgan Rogers.
The South American stars were shining bright for the Lions in the second period, though; after Emiliano Martinez produced one of the saves of the season, Jhon Duran - starting in place of Ollie Watkins again - broke the deadlock with a wonderful header.
One disallowed Chris Wood leveller later, it would seemingly not be Forest's day on their 5,000th league game, but Nikola Milenkovic repeated his Manchester United trick with a powerful header before Elanga's bedlam-inducing injury-time winner.
Enhancing their European credentials at the expense of the Lions, the Tricky Trees have now leapfrogged Manchester City into the top four of the Premier League rankings, while Villa stay sixth after being brought back down to reality.
SPORTS MOLE'S VERDICT
Starting strong was supposed to be Nottingham Forest's forte, as Nuno Espirito Santo's side have scored first in a league-high 12 games this season and would have made it 13 had Martinez not conjured up the most astounding save from Nicolas Dominguez's header.
The Argentine's remarkable reaction stop should be remembered as one of the greatest saves ever seen in the Premier League, as he justified his back-to-back Yashin Trophy triumphs just a few moments before the devastating Duran justified his starting place.
The Colombian striker has been equally famed for his excellence off the bench, but after he came off to rapturous applause from the visiting faithful, it was Elanga who made the difference as a late replacement, stealing Duran's super sub thunder.
The visit of Villa was always going to be a thorough examination of Nottingham Forest's European credentials, but they have passed with merit and should be taken seriously in the Champions League race until further notice.
NOTTINGHAM FOREST VS. ASTON VILLA HIGHLIGHTS
Emiliano Martinez wonder save vs. Nottingham Forest (60th min, Nottingham Forest 0-0 Aston Villa)
Have we just seen one of the best saves of the Premier League season, and potentially one of the best ever in the competition? Hard to argue against it.
Nicolas Dominguez's bullet header seems destined to crash the bottom of the net, but Martinez somehow sticks his glove down to the ground and stops the ball on the line before Diego Carlos hacks clear.
The Yashin Trophy winner has just pulled off a stop that Lev Yashin himself would have been proud of!
Jhon Duran goal vs. Nottingham Forest (63rd min, Nottingham Forest 0-1 Aston Villa)
Martinez's unbelievable save appears even more significant now!
Referee Sam Barrott smartly plays advantage after Rogers is taken down on the edge of the area, and John McGinn's outswinging delivery is met by Duran with a terrific header into the roof of the net.
For all of the Colombian's stellar work as a substitute, he has now scored in all five of his starts for Unai Emery's side across all tournaments this term.
81st min: Chris Wood disallowed goal (Nottingham Forest 0-1 Aston Villa)
From delirium to dejection! Nottingham Forest think that they have levelled through that man Wood, who cannot miss after being teed up just outside the six-yard box by Anthony Elanga.
However, after a good few minutes of deliberation and line-drawing from the VAR room, Elanga is adjudged to have just gone slightly too early, and the City Ground erupts into a cacophony of groans and boos as the goal is chalked off.
Nikola Milenkovic goal vs. Aston Villa (87th min, Nottingham Forest 1-1 Aston Villa)
This one will count!
Forest defender Milenkovic repeats his Old Trafford trick, heading in from Morgan Gibbs-White's delivery to surely rescue a share of the spoils for the hosts right at the death.
Martinez tried to grasp the ball in his chest, but he completely misses with his hands and can only help Milenkovic's header en route to the bottom corner.
Anthony Elanga goal vs. Aston Villa (90+3 min, Nottingham Forest 2-1 Aston Villa)
How do you like them Swedes!
Aston Villa want a free kick as Anderson bundles Matty Cash to the floor, but their pleas fall on deaf ears, and the ex-Newcastle United man cuts back for super sub Elanga to drive home what will surely be the winner.
The VAR room has a quick look at the Anderson-Cash incident and determines that there was no foul play.
MAN OF THE MATCH - ELLIOT ANDERSON
Yes, he may have been somewhat fortunate to have not given away a penalty in the first half, but apart from that one unpunished misdemeanour, Elliot Anderson was the midfield maestro running the show.
The 22-year-old was the trigger for Elanga's winner with his challenge on Cash and fine ball across, one of four chances he created on the day, in addition to putting in seven tackles and two interceptions in a captivating Tricky Trees comeback.
NOTTINGHAM FOREST VS. ASTON VILLA MATCH STATS
Possession: Nottingham Forest 50%-50% Aston Villa
Shots: Nottingham Forest 17-8 Aston Villa
Shots on target: Nottingham Forest 6-2 Aston Villa
Corners: Nottingham Forest 4-3 Aston Villa
Fouls: Nottingham Forest 12-5 Aston Villa
BEST STATS
WHAT NEXT?
Two capital clashes await Nottingham Forest either side of Christmas Day, as Santo's men pit their wits against home specialists Brentford on December 21 before hosting Tottenham Hotspur at the City Ground on Boxing Day.
As for Villa, they will hope to run back their home triumph over Manchester City from last year when they clash with the champions at Villa Park next Saturday, five days before a Boxing Day battle at Newcastle United.
Written by
Ben Knapton