Colton gave the Avalanche a 1-0 lead at 2:46 of the first period. He beat Lindgren glove side with a wrist shot from the slot after a pass from Wood sent him in alone.
Devon Toews made it 2-0 at 4:57, scoring from the point on a wrist shot through a screen.
The Capitals tied it with two goals in 44 seconds.
Beck Malenstyn cut it to 2-1 at 9:16, scoring on a rebound after Georgiev made a pad save on Martin Fehervary’s point shot.
McMichael then tied 2-2 at 10:00. Following an Avalanche turnover, he took a pass from Aliaksei Protas and had his return attempt deflected in off Lehkonen's left skate.
“I thought we did a pretty good job as a group just taking that breath, regrouping and being able to come out there and get two quickly and be able to get back in the game,” Malenstyn said.
Bednar said: “I felt like our start was good. We’re pushing north, linear attack, finishing to the net. We get rewarded with two goals, and then something changed, and it just got ugly for me for the rest of the first period.”