Jacob Markstrom went the distance for the Panthers in goal and stopped 28 of 30 shots but was beaten in the first two rounds of the shootout by Alex Chiasson and Jamie Benn.
Brad Boyes and Aleksander Barkov were stoned by backup Dallas netminder Cristopher Nilstorp, rendering the third round moot as the Stars picked up their first win of the preseason.
The game was scoreless for the first 47 minutes until Cody Eakin beat Markstrom to give the Stars the lead. Former Panther Ray Whitney and Sergei Gonchar drew assists on the goal.
Dallas struck again just 30 seconds later with Drew Shore in the sin bin serving a minor for hooking. Jamie Benn got the power play marker with the assists going to new acquisition Tyler Seguin and Alex Chiasson.
In the third period, the pace of the game picked up with both teams getting more scoring opportunities and there was also a bout between Florida's Garrett Wilson and Dallas' Jamie Oleksiak.
The Stars looked to be on their way to shutout win over the Cats until Drew Shore lit the lamp with 3:59 remaining in the game. The goal was set up by Brian Campbell and Scott Gomez.
Scottie Upshall evened the game a mere 14 seconds later with his third tally of the preseason. Jesse Winchester and Erik Gudbranson picked up the helpers on the goal. It was Gudbranson's fourth point in two exhibition games.
The Panthers ended the game with 24 shots on goal, including 2 in overtime, and went 0 for 3 on the power play.
Kari Lehtonen started the game for the Stars and stopped all 10 shots he faced before giving way to Nilstorp.
The teams will meet again Friday night in San Antonio.