The lowly visitors - who were playing in front of a world record crowd of 49,118 rather than their normal 300 - went ahead after just three minutes when they were awarded a penalty, with Paul Quinn tucking the ball away to suggest that an epic shock could be on the cards.
But the home side got back on terms quickly, Andy Little equalising after a quarter of an hour before then putting his side ahead just before the break.
Little scored again near the end to record a hat-trick, while Fran Sandanza and Lee McCulloch also got on the scoresheet in the second half as Ally McCoist's side pulled away.
The attendance figure smashed the previous record for fans at a fourth-tier match, which was set when 37,774 turned up to see Crystal Palace play Millwall at Selhurst Park in 1961 in the old English fourth division.
The Ibrox crowd was larger than the combined attendance for last weekend's five Scottish Premier League matches of 40,383.