Murray stopped Oliver Bjorkstrand in the bottom of the fourth round to end the shootout. Malkin and Blue Jackets forward Cam Atkinson scored in the first round.
Sergei Bobrovsky made 39 saves for Columbus (21-13-2), which is 1-2-1 in its past four games after winning three of four.
Hornqvist tied it 1-1 at 2:25 of the third during a three-minute power play for the Penguins. Letang, Penguins center Sidney Crosby and Blue Jackets defenseman Seth Jones each was called for roughing at 20:00 of the second, and Columbus forward Boone Jenner was given a major penalty for cross-checking Jake Guentzel and a game misconduct.
Malkin gave Pittsburgh a 2-1 lead at 15:03. After Artemi Panarin was called for a face-off violation at 14:46, Malkin batted the rebound of a Crosby shot out of midair.
Panarin scored a power-play goal to tie it 2-2 at 16:14. He took a pass from Seth Jones above the right face-off circle, stickhandled and beat Murray past his glove through a screen from Pierre-Luc Dubois.
Despite blowing a third-period lead, Blue Jackets coach John Tortorella said he was pleased with their effort coming off a 4-2 win against the Toronto Maple Leafs on Wednesday.
"It was a crazy game," Tortorella said. "Found a way to battle back in and get a point. … We'll take the point and a lot of good things come out of it. Get on to our next game.
"I thought we hung right in there. It's a team waiting for us. … I'm proud of our team."
Dubois gave Columbus its 1-0 lead at 7:09 of the second period after Murray allowed a rebound off a snap shot from Gabriel Carlsson four seconds earlier. Panarin had his shot blocked by Letang before passing to Dubois on the inner edge of the right circle, and Dubois beat Murray with a shot high over his glove.
