Karl Milgate, who is stepping in for boss Dan McNamara as he completes his RAF service overseas, had to mastermind a comeback at the Banks's Stadium after Albion took an early lead.
Leigh Dugmore put Albion ahead inside four minutes but Wolves' class showed as they quickly fought back. A spectacular long-range strike from Amber Hughes brought Wolves level – and in typical style following their impressive league campaign, they then took firm control of the contest.
Striker Maz Gauntlett, who had been the target of chants from West Brom fans, silenced their supporters in the 37th minute with a superb finish on the half-volley before directing her celebration in the direction of those fans.
Just four minutes into the second half Hughes was brought down in the box and Anna Morphet tucked away the spot kick, smashing it into the roof of the net, to give Wolves a commanding lead.
But Wolves were not finished as Tammi George looped the ball over goalkeeper Poppy Bastock from 25 yards to extend their advantage.
Shan Turner made an incredible save with her feet late on but Wolves were never in any real danger as they secured the Birmingham County Cup trophy and local bragging rights, having now beaten Albion three times this season after two previous league triumphs.
Wolves' focus now turns to their crunch play-off against Southampton Women on May 21, with a place in the Championship up for grabs.