Australia (6-378) had been sitting pretty at 3-291 in the third session, cruising towards England's first-innings total of 334 set largely by Joe Root's unbeaten 138.
But a handful of batting brain-snaps meant no-one kicked on to a big score for the day-night masters the way Root had for England, who came up with some woeful bowling on Friday.
A collapse of 3-38 in the final session was particularly egregious for Australia, and the damage could have been even worse had England not dropped five catches - four in the final session.
Australia's speedy run rate of 5.18 meant they went to stumps 44 runs ahead of England, who'll have a new ball early on day three.
Top-scorer Jake Weatherald (72) felt Australia had been justified in their aggressive batting, even if things did not always work out.
"We have a lead before the next new ball because of the shots we've been playing and the options we took," he said.
"You'd probably say some of the shots were a bit reckless at times but at the same time, they backed themselves in. That's what we want to do.
"In general, I think it came off quite well."
Alex Carey (46no) and the recalled Michael Neser (15no) are still there after both were given a life following terrible dropped catches by Ben Duckett and Brydon Carse, respectively.
Even after the fielding blunders, Root felt England remained in the hunt to level the series at 1-1.
"I don't think we're massively out of the game at all, I think we're actually not too far behind it, as long as we get things right tomorrow," he said.
"All we control is how we turn up tomorrow and how we apply ourselves.
"Our best cricket is more than good enough to do very special things out here in these conditions."
Cracks are beginning to show in the pitch, so Australia will be eager to finish their first dig with a sizeable lead given a fourth-innings chase is likely to be tough - particularly under lights.
In only his second Test match, affable opener Weatherald (72) was Australia's top-scorer as he and Travis Head (33) showed early signs of a potential long-term opening partnership.
The pair began a pattern of the Australian batting order feasting on some loose English bowling, with the tourists punished for their insistence on shorter lengths.
Weatherald had a first Test half-century from only 45 balls - the second-fastest by an Australian opener at the Gabba.
Head skied one to mid-on before he could repeat his heroics from the Perth Test, then a Jofra Archer (1-74) yorker smacked Weatherald's toe, trapping him plumb lbw.
Day-night guru Marnus Labuschagne, who took a flying catch in the deep off Brendan Doggett to dismiss Jofra Archer and quickly end England's innings, later had a great chance to break through for a first century since mid-2023.
He became the first man to pass 1000 day-night runs, weaponising the pull shot and scoring all around the ground.
But he swatted at a Ben Stokes (2-93) delivery well wide of off-stump and was caught by wicketkeeper Jamie Smith.
Labuschagne became the first of the middle-order to wonder what might've been, getting his eye in without truly punishing England.
The worst offender in England's wayward start to the game, Carse (3-113) was the unlikely mastermind behind an Australian collapse of 3-38 that put the tourists back in the game.
Cameron Green (45) stepped back in a very misguided attempt at a trick shot, watching Carse's yorker collect his stumps.
Duckett then put new batter Carey down at gully, before Steve Smith (61) left a big score on the table by pulling Carse to new inclusion Will Jacks at square leg.
Allrounder Jacks took a screamer of a catch to get rid of Smith, who missed the chance to kick on after an 80th Test half-century.
When workhorse Stokes clean bowled Josh Inglis just after Duckett had spilt him in the slips, the tourists were well in touch with the game.
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