Wheeler won it for the Jets when he shoved the puck past Avalanche goalie Semyon Varlamov with time ticking down in the extra period.
Varlamov made 35 saves and Nathan MacKinnon scored for Colorado, which has lost four straight — three after regulation.
Ladd gave the Jets a 1-0 lead with 8:18 remaining in the third period. It was his 10th goal of the season.
MacKinnon answered 29 seconds later when his shot went off defenceman Zach Bogosian's skate and past Montoya.
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