Trailing 36-22 with 4:39 to go in the first half, the Crusaders (13-5, 5-1 Horizon League) went on a 24-6 run spanning both halves.
Wood scored 18 in the spourt — seven in the first half and 11 to open the second — for a 46-42 lead with 15:24 left.
After Cole Darling's free throw trimmed the lead to three points, the Raiders (11-7, 4-2) could get no closer than five points.
Wright State shot 68 percent from the floor in the first half (17 of 25), but only 18.2 percent in the second (4 of 22).
Valparaiso, which shot 62.5 percent from the field in the second half (15 of 24), finished with a 36-23 rebounding edge.
Cory Johnson added 13 points for the Crusaders.
Vaughn Duggins and N'Gai Evans paced the Raiders with 19 points each.