The hosts tore out of the blocks, and went ahead after 15 seconds when Christopher Marsh latched onto a smart through ball from Charlie Henry and fired home.
Then followed a series of chances for Dunstable, most of which fell to Jemale McKenzie-Lowe, but the forward could only find the keeper or the stands, not the back of the net.
Corby struck back just before the break, as young goalkeeper Luke Chambers committed a foul that gave Greg Mills the chance to score from the spot, which he emphatically took.
Again Dunstable were found wanting in defence, as captain Paul Malone netted from a corner early in the second half.
Jones could loan out Muskwe and Mendes Gomes as he admits certain players would have left regardless of cup exit
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HATTERS RATED: Luton Town 2 Newport County 3
Dunstable pushed for the equaliser their play merited, but Paul Walker in the Corby goal was equal to everything thrown at him.
Even when Corby were reduced to 10 men after forward Wilson Carvallo got involved with Henry in an off the ball incident, the Duns still couldn’t break the visitors down, and were left to reflect on their missed chances at the final whistle.
Blues, who won 2-1 at Bideford on Saturday, are back at home on Saturday when they host Burnham.
Dunstable: Luke Chambers, Ben Herd, Leon Cashman, Nick Beasant, Shane Blackett, Scott Davies, Adam Watkins, Charlie Henry, Jemale McKenzie-Lowe, Elliot Sandy, Christopher Marsh.
Subs used: Terry Dixon, Lee Roache, Tony Burnett. Not used: Claudio Dias, Ben Barnes,