They lead the Carolina Hurricanes by three points for first place in the Metropolitan Division. The Hurricanes have two games remaining; the Rangers have one.
New York will clinch first in the division if Carolina loses in any fashion to the Chicago Blackhawks on Sunday.
"I think it says a lot," Rangers coach Peter Laviolette said of setting the franchise record for wins. "There's still one more regular-season game left and you want to make sure you're doing your best to make sure you're getting the two points, getting the wins, and if you do that well enough, then you get a chance to play for the Stanley Cup.
“The regular season has to happen for everybody, 82 games, and the fact that this group was able to battle hard the way they did and collect 54 [wins], I think that's something they should be proud of from a regular-season standpoint."
Nelson scored twice, Kyle Palmieri and Hudson Fasching each had two assists, and Sorokin made 41 saves for the Islanders (37-27-16), who had a six-game winning streak end.
"It's a big point for us," Islanders coach Patrick Roy said. "In the same way we'd love to have those two points, don't get me wrong. It was a hard-fought game, both teams had their chances, but we felt like we could have ended up with that game on our side."
The Islanders are third in the Metropolitan Division, three points ahead of the Washington Capitals and Philadelphia Flyers. New York and Washington each has two games remaining, Philadelphia has one.
"When you're up late and you lose it, it hurts," Nelson said. "And then you take a step back and think about how tight the race is, so many different outcomes and scenarios that could happen. So, to get one [point], that's good."