Richardson's nine threes ties him for second-most all-time in Magic history behind only Dennis Scott, who knocked down 11 on April 18, 1996.
With the Bucks down 78-75, Carlos Delfino hit a triple to spark a 13-0 run that gave Milwaukee a 88-78 advantage with just under six minutes to play in the game.
Orlando answered with a 16-0 swing of its own that included four treys from Richardson to give the Magic a 94-88 lead with 2:06 left in the contest.
The Bucks got back-to-back threes from Gooden and Ilyasova around a Turkoglu trey as Milwaukee trailed 97-93 with 57.3 seconds to play.
Turkoglu went 2-of-4 from the charity stripe down the stretch as the Bucks held on to a glimmer of hope, trailing 99-94 with 17.3, but Gooden's last two field goals were off the mark to seal the victory for the Magic.
Orlando jumped out to a 7-0 lead but Milwaukee quickly countered with an 11-0 run to take an 11-7 lead midway through the first.
Mike Dunleavy ripped off eight straight in the last three minutes of the quarter to give the Bucks a 21-16 lead after one quarter of play.
J.J. Redick scored 10 of his team's 12 points over a 3 1/2 minute stretch in the second but the Magic were unable to chip away at the deficit as they trailed 49-43 heading into intermission.
The Magic knocked down five three-pointers in the third quarter as they trailed by one, 73-72, heading into the final frame.
The Magic have won 11 of the last 13 meetings with Milwaukee...The Magic will begin a three-game home stand against Minnesota on Monday, while The Bucks will host the Heat on Monday...Both teams shot 40 percent from long range.