Both sides were chasing promotion from the Championship when they met at Loftus Road on Boxing Day, but it proved to be a miserable day for the Welsh club as they suffered a resounding 4-0 defeat.
But with Rangers having sealed the Championship title and the Swans claiming play-off glory, Allen and his team-mates will get the chance to make amends as they look to continue an excellent home record that has seen them defeated just once on their own turf.
Allen said: "Last season that game was one of the few disappointments so we really want to put that right. Games where promoted teams come up against each other tend to be exciting encounters and we want to come out on top.
"In football there are results and teams you remember and it was a bitter feeling on Boxing Day, it's not very often that we get drubbed like that, so we owe them one."
Wales international Allen, 21, has been one of the outstanding performers for manager Brendan Rodgers so far this term, but has echoed his boss' calls for the Swansea midfield to step their game up a level, feeling they had lacked control in the draw at Newcastle and defeat at Everton.
"I agree with him," said Allen. "We have felt like that out there on the pitch.
"It's difficult to put a finger on why that has happened but it's one of our big strengths and we make it difficult for ourselves if we don't control that, but we respect we are playing established Premier League sides and players who have cost a lot and get paid big money for what they do.
"But to put things in perspective, I am proud to say we are mixing it with the best. Against Everton, facing (Marouane) Fellaini was a tough task for myself and I came away a bit disappointed with that battle, but we have to move on and look to put things straight.
"QPR have a lot of high-profile players like Joey Barton, and while we are not focusing on individuals these are the players you want to test yourself against and we are looking forward to it.
"We want to bounce back after defeat at Everton. Our home form has been impressive and we feel we have a realistic chance of picking up the three points."
Having been widely tipped for an immediate return to the second tier of English football, Swansea look set to enter 2012 in mid-table.
And while results have been hard to come by in recent months - Swansea have won just one of their last seven league games - Allen believes everyone at the club can be satisfied with the position they find themselves in as the season approaches its halfway point.
"We would have taken 14th place at Christmas if it had been offered to us," he said.
"You could see from the moment the final whistle went at Wembley we were tipped to be rock bottom. We have proved people wrong so far and the best thing is we feel we have more to give and are going to get better.
"But you cannot rest on your laurels in this league. Blackpool had a great start to last season but they went down, we have to give 100 per cent in every game and we can't have too many slip-ups.
"We are in this for the long run and it all counts for your position at the end of the season. Every day counts, every moment in every game you have to be focused or you get punished."