Argyle were left to count the cost of missing several gilt-edged chances and losing players to injury at crucial times and Blackpool ruthlessly made them pay as they tired late on.
The home side wasted a glorious early opportunity to take the lead when Luke Summerfield, a seventh-minute substitute for captain Carl Fletcher, found Alan Judge with a defence-splitting pass, only for the Irish Under-21 international to scuff his shot.
Blackpool goalkeeper Matt Gilks prevented the Seasiders from going behind when he made a superb double stop to deny Bradley Wright-Phillips after the forward had been set-up by strike partner Jamie Mackie.
Argyle winger Yala Bolasie proved a handful and twice went close, forcing Gilks into a save from a powerful low volley after being picked out by Summerfield and then firing a shot into the side-netting after a nice pass from Wright-Phillips.
Blackpool were prevented from taking the lead in the opening minutes of the second half when Summerfield's header towards his own goal was intercepted by Ben Burgess, whose shot was well saved by David Stockdale.
The visitors continued to press and nearly capitalised when Adam's curling shot from 25 yards beat Stockdale but clattered back into play off the angle of crossbar and post.
Stockdale brilliantly thwarted another Adam long-range shot, tipping it over the crossbar, as Blackpool gained the initiative.
The momentum retuned to Argyle and Mackie was twice denied well by Gilks, either side of which Wright-Phillips hit a post in a melee following a corner.
However, after Summerfield limped off to be replaced by teenager Ryan Leonard, Argyle ran out of steam and fell apart.
Adam and Dobbie duly finished them off, with Dobbie's back-heel playing in Adam for a low surgical finish and Adam repaying the favour moments later.