Wolves looked set for their first win over Villa for 30 years after Jody Craddock's equaliser and James Milner's own goal had put them in front.
But Carew followed up his opener with his 13th goal of the campaign with only seven minutes remaining.
Calamity James: Villa keeper Brad Friedel fails to repel Milner's deflection from David Jones' shot
Villa had threatened to overrun the visitors in the opening quarter of the gamewith James Milner exploiting space in the centre of the park and they deservedthe lead given them by Carew.
FA Cup competition: Be the Chelsea mascot for the semi against Aston VillaAston Villa 2 Wolves 2: The Midlands derby as it unfoldedASTON VILLA FC