Alloa's problems began immediately with full back Ross Clarke suffering a suspected broken ankle. Their second half collapse suggests another long struggle against relegation lies ahead.
Dalziel powered home two free headers from corner-kicks to put Cowdenbeath in control early on and Pat Clarke hit the visiters woodwork with another header.
Alloa replacement Paul Thompson twice tested home 'keeper David Orr and when Ross Hamilton pullled one back with a cool finish shortly after half time few could have predicted what would happen next.
Striker Liam Buchanan scored at the second attempt to make it 3 - 1 and Pat Scullion then squeezed a stunning free-kick into the corner of the net from 22 yards.
Substitute Mark Baxter set up Markus Paatelainen for an emphatic close range finish and coach Mixu's younger brother soon side-footed home to complete a spectacular scoring burst of four goals in six minutes. There was still time for Innes Richie to be sent-off following an altercation with Ross Hamilton.