City's goals came from Riccardo Scimeca, Malvin Kamara, Paul Parry and a Jody Craddock own goal but the visitors were reduced to ten men midway through the opening half when Gary Breen was dismissed for striking Steven Thompson.
The Bluebirds were unchanged for the third successive match while the visitors also kept the side that beat Stoke City on their last outing.
Both teams were prepared to attack from the opening whistle and Parry sent a tame header straight at Wolves keeper Matt Murray while at the other end Leon Clarke sliced a shot wide from a good position.
The nippy Jemal Johnson was finding space down the right and twice he tested City keeper Neil Alexander before Michael Chopra restored some balance with a volley that was safely held by Murray.
The visitors were rocked in the 21st minute when Breen was shown a red card by referee Pat Miller. He went up for a challenge with Thompson and appeared to strike him in the face as they jostled for the ball.
Wolves boss Mick McCarthy sacrificed Clarke and brought on Jamie Clapham who took up a position at wing-back.
Kevin McNaughton picked up an injury on the half-hour and had to be substituted to put his place in the Scotland squad in jeopardy.
City went ahead in the 40th minute when a pinpoint Parry corner was firmly headed into the net by the unmarked Scimeca.
Chopra went close straight from the restart as City went looking for a second goal but it eventually came in fortunate circumstances, three minutes into the second period.
Parry swung over a cross and Charlie Mulgrew's header struck the unfortunate Craddock on the back before flying into the net.
McCarthy's response was to throw on two strikers in Craig Davies and Jay Bothroyd in the 53rd minute.
But City made it safe in the 70th minute when Kamara, who had come on for McNaughton, raced onto a pass from Kerrea Gilbert and slotted his shot beyond the diving Murray.
Eight minutes later and the rout was complete as Chopra fed Parry and the Wales international's right-footed shot hit the roof of the net before Murray could move.