In 1989, it was the Lions who hit back after losing the first Test to take the series 2-1, while 12 years ago it was the Wallabies who turned the tables in Melbourne and Sydney after losing the opening Test in Brisbane.
"We know they will bounce back. They were only a kick away from winning last week so they know they have every chance of getting the Test series back," said Warburton.
"If it was one nil down the talk in our camp would be that we believed we could bring it back. The Australians being Australians, they are great competitors and there is no way they will be down and out.
"I imagine they will come out firing. As Warren said it is all or nothing for them now and we expect a huge performance from them.
"All the talk around the players this week has been about making sure we finish it this weekend. There has been no complacency, thinking that we've got a week off because there is another opportunity next week.
"Momentum would completely swing if Australia won. They'd be going into another home game to finish after winning a game, so we definitely want to finish it off this weekend and the players are motivated to do that."
The Lions led at half-time in the second test at the same Melbourne venue in 2001 before going on to lose the game by a record margin, 35-14. That was the first 'indoor' international played by the Lions and this weekend's game will once again be played under a closed roof.
"We played with roof closed here last year with Wales. I know it is a different occasion but I think the players will enjoy it. If you ask any of our lot whether they want the roof open or closed and they will all say closed because it helps the atmosphere," added Warburton.
"You can't blame the elements and we are all on a level playing field. The roof being closed is good for us."
Warburton led Wales to an agonising, 25-23 defeat against the Wallabies in Melbourne last year, Mike Harris kicking the winning goal a minute into injury time with the last play of the game.
Last weekend could have gone the other way had Kurtley Beale kicked the final penalty of the game and Warburton knows just how important, and finely balanced, the second Test will be.
"It will be the biggest game of my career because the potential achievement will be something that nobody has achieved for the last four tours. That's something I am really looking forward to - I love that," he added.
"It's all about knowing what you could achieve, although we know we are going to have to do something special to make sure we do that. All the players are in this squad because they perform well in the big games and they are the ones you look forward to.
"Normally you are pretty nervous in the week going into a big game like this for club or country, but this week is complete excitement and it can't come quickly enough.
"I have had nervous excitement this week. It's quite strange when you wake every day knowing that it is five days, then four and now it is down to two before the Test. The game can't come quickly enough."