Wycombe raced into a 2-0 lead at White Hart Lane following two goals from striker Paul Hayes, with left-back Jacobson setting up the first with a pinpoint corner.
Son Heung-min and Vincent Janssen hauled Spurs level before substitute Garry Thompson headed in Myles Weston's cross with seven minutes to go to put Gareth Ainsworth's side back in front.
But super-sub Dele Ali levelled in the 89th minute before Son Heung-min completed a thrilling comeback in stoppage time.
Jacobson said: “It was a great occasion and we deserved a replay at the least. It was an amazing experience and game to be part of.
“Everyone would still be talking about it now if we had held on.
“It's a shame that our run has ended and we were low after the game.
“Of course we would have loved it to have continued. But when you look at the bigger picture we did ourselves proud.
“And we have made no secret that our league form has always been our priority. And that's where the focus is now.
“Competing against a team like Spurs and giving them a scare will give us real confidence moving forwards.”
Team-mate Scott Kashket also played the full 90 minutes. He tweeted: “Gutted about the result, [but the] team was absolutely quality today. Fans were brilliant as always, now we move on to Tuesday’s game.”
