Harry Redknapp's side took advantage of the draw in the early kick-off with a professional away win against play-off chasing Blackpool.
Matt Phillips – signed by QPR from Blackpool for a reported fee of £5million in August – gave his side the lead in the 61st minute when he scored from outside the penalty area.
And he turned provider shortly after, crossing for Charlie Austin to head home and wrap up the win.
Leicester started brightly against Burnley, but needed a fortunate penalty from David Nugent against his former club to give them the lead after 15 minutes.
Danny Ings levelled for Burnley just two minutes after the break, his 16th goal of the season in all competitions.
Burnley are on 40 points, two behind QPR, while Leicester are a point adrift in third.
Derby County sit fourth after recording their sixth win in a row, as goals from Jamie Ward and Craig Bryson gave them 2-0 at Charlton Athletic.
At the other end of the table, Sheffield Wednesday won their first away match of the season after edging Watford 1-0 at Vicarage Road.
Wednesday also became the last side in the Football League to keep a clean sheet, as Sunderland loanee Connor Wickham scored the only goal of the game with a free-kick.
Barnsley missed the chance to climb off the bottom of the table after being held to a 1-1 home draw against fellow strugglers Yeovil Town.
Yeovil, who are now unbeaten in four, took the lead through Joel Grant but Marcus Tudgay levelled from the penalty spot in the 34th minute.
The Championship's top scorer – Leeds United forward Ross McCormack with 16 – netted again as Brian McDermott's men won 3-0 at Doncaster Rovers.
Goals from Matt Smith and Leeds captain Rodolph Austin sandwiched McCormack's strike, his 11th in his last seven matches, as they moved inside the play-off places.
Other results on Saturday saw Billy Sharp's goal give Reading a 1-0 win at Huddersfield Town, while Nottingham Forest and Ipswich Town played out a goalless draw.
Blackburn Rovers edged Millwall 3-2 in an entertaining encounter at Ewood Park, while Birmingham City extended their unbeaten run to six with a 2-0 win at Bournemouth and Matthew Upson's 86th-minute goal gave Brighton and Hove Albion a 1-0 success at Middlesbrough.
