The game ended 2-2.
Superb second-half goals from Christian Benteke and Odsonne Edouard had turned the match on its head after Pierre-Emerick Aubameyang gave Arsenal an early lead.
The Eagles were set for three points until they failed to clear a corner and Lacazette pounced after Ben White's effort was saved.
Arsenal move up to 12th with a sixth game unbeaten, while Palace remain 14th after a third draw in a row.
Crystal Palace manager Vieira played 279 times for Arsenal between 1996 and 2005.