With Wales already 1-0 up in Cardiff thanks to a remarkable goal from 17-year-old Ben Woodburn on his global debut, Bale was unlucky not to extend his nation's lead after attempting a spectacular scissor-kick just before Hal Robson-Kanu hit the outside of the post in the final moments of the match.
The hosts had to wait until 16 minutes from time to finally breach the Austrian defence and it was the 17-year-old substitute who fired in a wonderful strike to boost their chances of qualifying for next year's World Cup in Russian Federation from Group D.
Gareth Bale also went close with a left-foot shot to ignite a crowd desperate to see a rerun of Wales' Euro 2016 heroics.
Another added: "Ben Woodburn reminded me so much of Coutinho, even the way he struck the ball for his goal, very similar players". "I definitely won't sleep tonight, that's one thing".
The Liverpool forward was introduced as a substitute just five minutes before he picked up a loose header 20 yards from the Austria goal to curl an effort into the bottom corner and send the Wales fans into delirium. "This is not a player we have just discovered, we have had him for some years in our system", said Coleman.
"Jurgen Klopp has been absolutely fantastic with him [telling him] "not too much too soon", "be patient and your time will come and then you have to take your chance".
Wales now travel to Moldova for Tuesday's clash with a spring in their step while the Republic take on Serbia at home.
Having been invited down to Dragon Park by the FAW while still 13, he played for a combined Regional Development Boys XI - which combines the north and south Wales squads - and has remained playing for the country ever since. "We have to do the same again in Moldova (tomorrow)".