Illinois kicker Taylor Zalewski, who missed two first-half field goals, converted the extra point to give the Illini their only lead in the game.
The Illini (4-1, 1-0 in Big Ten) defense stopped the Cornhuskers (2-3, 0-1) on a fourth-and-7 at their own 27-yard line with only 51 seconds to play to give Lunt one last shot at winning the drive.
And he cashed in with a little help.
The junior transfer led the Illini to the Nebraska 7-yard line. On three straight plays, Lunt went to his favorite target -- Allison -- on the right side of the end zone. Twice Allison caught the ball, only it was out of bounds. But the Nebraska secondary also interfered with Allison to move the ball to the 1.
Lunt finally hit Allison in bounds, low and just inside the end zone.
The win snapped a three-game losing streak in Big Ten openers, and was Illinois' first victory against Nebraska since 1924.
Lunt went 23 of 45 for 251 yards and two touchdowns, connecting with Marchie Murdock for 22 yards early in the first quarter. Allision hauled in eight passes for 91 yards and the game-winning touchdown.
Nebraska rolled to a 10-0 halftime lead. Running back Devine Ozigbo, who led the team with 70 yards on seven carries, put the Cornhuskers on the board with a 19-yard score with 12:35 left in the second quarter. Armstrong found Cethan Carter from 55 yards out down the sideline to set up a 39-yard field goal by Drew Brown with 11 seconds left in the first half.
Nebraska had 292 total yards on the day. Quarterback Tommy Armstrong Jr. went 10 of 31 for just 105 yards and an interception.
Ferguson out: Running back Josh Ferguson left the game in the first quarter with a shoulder injury and did not return.
Punter change: After a 27-yard punt by Ryan Frain, Illinois gave the punting duties to David Reisner for the rest of the game.
The Illini travel to Iowa City next week to play the Hawkeyes (5-0, 1-0), who beat Wisconsin on the road.