Chasing 264 to win on a challenging Gabba wicket, the Bulls were never in the hunt and, after being reduced to 3-14, were eventually bowled out for 89 in the final over of an elongated final session on Tuesday.
The result means second-placed NSW have one hand on a final berth, and leaves Queensland chasing a highly unlikely set of results to reach the decider.
Abbott tore through Queensland's top-order who at one stage lost 3-2, with Test batsman Joe Burns and Marnus Labuschagne both dismissed for ducks - the latter condemned to a pair.
Abbott caused endless trouble with his controlled movement of the Dukes Ball, eventually returning figures of 5-31 from 13 overs.
Allrounder Moises Henriques (3-7) ripped through the middle-order with his three-wicket spell headlined by the key wicket of obdurate opener Matt Renshaw for 31.
Earlier, NSW had few problems with the bat advancing from their overnight 2-103 to be dismissed right on tea for 298.
The Blues innings was built around half centuries from Henriques (78) and Daniel Hughes (68), with the latter chewing up 218-balls in a watchful knock.
The pair put on a match-high partnership of 119 for the third wicket, and played with a confidence that belied a deck which yielded 22 wickets on the opening two days.
Michael Neser (3-73) was the pick of the Queensland bowlers, collecting the important wickets of Hughes and Peter Nevill (9).