With 10 minutes remaining it seemed the Red Devils were heading for a third successive defeat and about to hand the title initiative to main rivals Liverpool.

Then, Cristiano Ronaldo drilled home his second goal of the game, setting the stage for 17-year-old Federico Macheda [pictured] to curl home a sublime winner in the second minute of stoppage time to send Old Trafford into ecstasy.

"In those situations, I gamble," said Ferguson.

"Winning is the name of the game at this club.

"Risks are part of football and this club has been that way for a long time.

"I love to see that kind of adventure. Yes, there are times when we don't defend properly - and we didn't defend well today - but there is always a goal threat.

"There is always a chance we can win the match - and that is more exciting than anything."

It probably explains why Ferguson retained a sense of calm authority, introducing Macheda and then fellow teenager Danny Welbeck, as most United fans were watching through splayed fingers.

Ronaldo had opened the scoring but Villa were already on top.

Martin O'Neill's men thoroughly deserved John Carew's equaliser before the break and merited the header Gabriel Agbonlahor found the net with just before the hour mark that looked like giving Villa their first away win over United since 1983.

However, the introduction of Macheda, a former Lazio academy scholar who joined United in 2007, brought more direction to the hosts' play.

And once Ronaldo had beaten Brad Friedel with his precise shot, the scene was set for one of those amazing finishes that have been the hallmark of so many United triumphs down the years as Macheda collected Ryan Giggs' pass for the most amazing debut goal.

"It is the kind of day you dream about," said Macheda.

"Maybe no-one knew about me before but I think that might have changed now."

United must quickly gather themselves together as they face Porto in a Champions League quarter-final on Tuesday.

Wayne Rooney, Nemanja Vidic and Paul Scholes will all return from suspension but Rio Ferdinand is again set to miss out with a groin injury, leaving Jonny Evans to keep his place in central defence and John O'Shea to slot in at right-back in place of Gary Neville, who suffered a torrid time on his return to action after two months out.

Ferdinand's groin injury is no doubt a blow, although the pain was eased by Macheda's winner which the England defender pointedly celebrated directly in front of former Liverpool star Jan Molby, who was commentating on the game for BBC radio.

However, it felt like one of those pivotal moments, such as when Steve Bruce scored with an injury-time header against Sheffield Wednesday in 1993 to put United on course for their first league title in 26 years.

"We have been over this course many times before since then but I suppose you could say it was like 1993 in terms of drama," said Ferguson, who feels the winner of Chelsea's Champions League showdown with Liverpool will emerge as United's chief threat.

"It will be a real battle and whoever wins it will be taking a real step forward," said Ferguson.

A crestfallen Martin O'Neill felt his side were highly unfortunate, not least because referee Mike Riley missed a foul on Ashley Young in the build-up to Macheda's winner.

"The officials also got three offside decisions wrong when we were clean through," he complained.

"The thing is we can take great heart from the performance.

"But we are really disappointed with the result because I didn't feel we deserved that.

"You are never comfortable against United but I felt we were in commanding form and looked as though we could withstand anything."

While United are now a point in front of Liverpool, with a game in hand, Villa are six adrift of Arsenal in the battle for fourth with just seven minutes remaining.

"We are not finished," said O'Neill.

"We play Everton next week, which is a massive game for both teams."