The PGA Tour rookie made an eagle and a birdie on the two back-nine par 5s in his third straight bogey-free round as he reached a 21-under 192 total on The Cliffs at Walnut Grove in North Carolina on Saturday.
Final group partner Kohles matched Shipley with a 65, birdieing three of the last four holes.
"Just going to keep doing what I'm doing," Shipley said. "Keep being me and keep having fun out there. Keep that mindset of going out there, chasing birdies, and trying to get it as low as possible tomorrow."
Shipley opened with a 65 and had a 62 on Friday in the first of eight tournaments in the FedEx Cup Fall that determine the top 100 in the FedEx Cup who keep full cards for next season.
Of the two Australians in the field, Karl Vilips was best placed at tied 44th on nine under after a 68, with Cam Davis three shots furher back after a 70.
Shipley entered the week 183rd in the standings. A victory would not only give him a two-year exemption, it would secure him for the more lucrative Championship Series in 2028 when the tour revamps its schedule.
"It would be huge," Shipley said. "It would take a lot of stress off my back, that's for sure. It's one of those things I'm playing really well and I know it's a matter of time for me, so I'm going to give it my best shot tomorrow and lay it all out there and see what happens."
Kohles played alongside Shipley in the final threesome and eagled the par-5 third. He's chasing his first PGA Tour title.
"Happy with the day," Kohles said. "Played solid. Took advantage of par 5s, which like I said yesterday, is something you got to do out here on this course."
Eric Cole (64) and Ricky Castillo (65) were tied for third at 17 under. Fellow Americans Jacob Bridgeman (64) and Max Greyserman (66) were 16 under.
The tee times were moved up and the players were grouped in threes off both the first and 10th tees because of the possibility of late afternoon storms, with the tour set to do the same thing Sunday because of thunderstorms.
