Maurice Edu scored at both ends as Rangers missed a plethora of chances to beat Valencia in a thrilling Champions League Group C meeting at Ibrox.
Steven Naismith had already squandered a good opportunity before Edu rose above goalkeeper Cesar Sanchez to head home with 34 minutes gone.
Miller fired over with the goal gaping just before the break and Edu headed into his own net after 46 minutes.
Richard Foster missed another open goal as the points were shared in Glasgow.
The draw allowed Manchester United, who defeated Bursaspor 1-0, to go two points clear at the top of the group, with Rangers still one ahead of Spanish visitors who themselves had chances to win a pulsating tie.
On-loan Aberdeen utility man Foster had been handed a first start at right-back after Kirk Broadfoot failed a fitness test.
Kyle Lafferty dropped to the bench as on-loan Manchester City winger Vladimir Weiss retained his place to make his first Champions League start.
It meant that Rangers reverted to the 5-4-1 formation that served them well against Manchester United and Bursaspor.
There was no surprise therefore that Valencia, only knocked off the top of La Liga after their defeat by Barcelona at the weekend, dominated possession in the early stages.
The Spaniards, with five sets of fresh legs following their narrow defeat in the Nou Camp, were looking a class act as they stroked the ball about.
But Valencia were being limited to some long-range efforts and the most nervous moments for Rangers were self-inflicted by a few of their own slack clearances.
Rangers burst to life after 17 minutes and created three good chances in quick succession.
A beautifully flighted curling cross from Miller found Naismith one on one with Cesar, but the forward fired straight at the veteran goalkeeper's body from close range.
Naismith turned provider and Miller's attempt to head home from a difficult angle at the front post was beaten away by a worried Cesar.
Sasa Papac was next to work the goalkeeper with a 25-yard drive that was turned over the crossbar.
It was Cesar to the rescue when he chased out of goal to parry Miller's attempt at a chip, but the in-form Scotland striker ought to have scored after beating the offside trap.
Rangers survived more Valencia pressure before breaking the deadlock, Edu heading home despite being clattered by Cesar as he rose to meet a Weiss corner.
It ought to have been 2-0 four minutes before the break when an Edu drive came off the inside of the post and Miller belied his recent lethal form by blasting over the unguarded net from 16 yards.
Valencia coach Unai Emery did not wait to make changes and pushed two strikers up front by sending on Roberto Soldado, who had dropped to the bench after the defeat by Barcelona, for Alejandro Dominguez at half time.
Whether or not it was change of formation that made the difference, the scores were level a minute into the second half when Edu misdirected his attempt to head clear a Tino Costa free-kick into the corner of the net from all of 15 yards.
That rocked Rangers and Juan Mata ought to have hit the target but fired over from just inside the box after the home defence was split open by some slick passing.
Rangers were now under almost constant pressure, although a clever Steven Davis chip forced a fine save from Cesar and a driven Papac free-kick flew just over.
Naismith squandered another chance when through on goal, failing to find enough contact when found by a Davis chip.
Soldado forced McGregor into a couple of late saves, but it was Rangers who missed another glorious chance when Cesar failed to hold a Naismith drive and Foster lofted over with the goal gaping.
