Diogo Jota and Ruben Vinagre were on target at Molineux in the first leg clash.
However, it was a nervous evening for the Premier League side with Vinagre's goal only coming in injury time after a mistake by goalkeeper Sean O'Neill.
Wolves beat City on penalties to win Asia Trophy
Rangers were also 2-0 winners over bogey team Progres Niederkorn at Ibrox.
The part-timers from Luxembourg dished out one of the biggest upsets in Rangers' history when they dumped Pedro Caixinha's side out of the same competition two years ago.
Joe Aribo and on-loan Liverpool youngster Sheyi Ojo were on the scoresheet in a game which saw skipper James Tavernier miss a second-half penalty.
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