A run of just 10 points taken from the last 30 available has seen the EPL champions slide from hot favourites into a team battling to make the Champions League places.
It was a Happy New Year for all of two minutes for Chelsea manager Carlo Ancelotti on Sunday as his side staged a thrilling late rally to lead Aston Villa 3-2 only to concede a stoppage-time equaliser.
When captain John Terry shot home after 89 minutes, five minutes after Didier Drogba had brought the Londoners level at 2-2, Stamford Bridge was rocking.
It looked like their woeful run in November and December had been finally banished and a second successive win, following Wednesday's 1-0 victory over Bolton Wanderers, was on the cards.
Chelsea's defenders had celebration on their minds too early, though, and their concentration disappeared en masse to allow Ciaran Clark all the time and space he wanted to nod in from close range and secure a 3-3 draw for Villa.
Having seen all their title rivals win on Saturday, it was a huge blow to Chelsea's hopes of retaining the Premier League crown.
A run of just 10 points taken from the last 30 available has seen them slide from hot favourites into a team battling to make the Champions League places.
After 10 matches they were top of the league, five points clear of Manchester United. After 20 they are fifth, six points behind United who have a game in hand.
Manchester City are also six points ahead of the champions, Arsenal four, and Tottenham Hotspur one.
Asked if he thought Chelsea's title hopes were over, Ancelotti did his best to play up their chances.
"No, it is not over because we are improving and I think we can do something more in this championship," the Italian told reporters.
"We have lost confidence but not a winning mentality. First United have to win [their game in hand]. Second I think the gap is not small but everything is open. Obviously we have to beat United here [in March], then we can say something about the title."
After their flying start to the season, everything started to go wrong for Chelsea when they lost 2-0 at Liverpool on November 7.
They scraped a 1-0 home win over Fulham but were then stunned 3-0 at home by a Sunderland team they had crushed 7-2 last season.
There was another defeat at Birmingham City, draws with Newcastle United, Everton and Tottenham, and a painful 3-1 defeat at Arsenal.
Only the fact that United, Manchester City, Arsenal and Spurs have also been dropping points has kept Chelsea in the hunt.
"Our bad moment was too long, but I think we are improving," Ancelotti said. "Defensively we have lost something, but we are improving. We need some players. I do not want to say what players we need.
"I'm disappointed, obviously, about today because I think we used a lot of energy in the second half to try to come back to win with a good spirit.
"But we thought the game was won. We needed to focus, but we lost two points in the last situation," said Ancelotti.
"We were not able to maintain concentration so it's our fault. Now we just have to prepare for the next game against Wolverhampton."
By the time Chelsea travel to the Midlands on Wednesday, they could be nine points off the pace as United entertain Stoke City on Tuesday.
On Wednesday, Arsenal host Manchester City and Spurs are at Everton.
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