Referee Paul Taylor, who retires next month, waived away all appeals when Australian sub Nick Carle slid into Jarvis, but it looked a very lucky escape for City.
They had another minutes later when Steve Brooker falling back to defend a corner cleared a shot from George Elokobi off the line.
City, who have scored only four in seven games, battled hard for their point after a scrappy start but always looked second to Mick McCarthy's Wolves.
The first half was a torrid affair for the Robins as they were refused time and space to settle.
Their problems mounted from the first minute when Sylvan Ebanks-Blake beat Jamie McCombe to the right of goal to set up two shots for Michael Gray.
The first was scuffed, the second drew a good save and that just about summed up the first period.
City conceded a hatful of free-kicks and right-back Bradley Orr picked up a yellow card for a tackle on Jarvis, who always looked dangerous down the left flank.
Luckily for them Wolves were having trouble finding their range with the free-kicks, although Adriano Basso had to pull out a top-drawer save to deny Jarvis.
The winger went close again just after the break after a long clearance had left City's defence very exposed.
Shots on target from either side were rare, but then two came along inside a minute, Ivan Sproule for the home side and Andy Keogh for Wolves.
Both drew excellent saves, before Wolves centre-back Neil Collins, going up for a corner, sent a header straight at Basso from six yards.