Todd finished his spotless round with three birdies on his final five holes, closing out his third consecutive low score with a flourish to get into the clubhouse at 18-under 195.
He held a one-shot advantage over second-round leader Marc Leishman, who carded a 68 to reach 17-under 196.
'I've played great all three days,' said Todd, who went 64-66 over the first two rounds. 'Today I was able to stay patient and eliminate the bogeys.'
Kyle Thompson was in the thick of things following a 68 that left him two shots off the lead at 16-under 197, while Jonathan Fricke (64) stood at 13- under 200 as the only other player within five strokes of Todd.
Todd, who entered the tournament ranked 53rd on the money list, picked a good week to challenge for his first Nationwide Tour win.
The Georgia native currently sits almost $60,000 outside the 25th position on the money list with just four events remaining before the season-ending TOUR Championship.
The top 25 money winners at the end of the season will earn PGA TOUR cards for next year ' a reward that could have Todd playing on a much different level in 2009.
But one thing at a time. The youngster is still adjusting to the high altitude of the Willow Creek course, and what effect it has on the distance his shots travel.
'In the mornings and evenings it's a five-percent difference,' said Todd, who has posted four top-10 finishes in his rookie season. 'In the middle of the day it's a full 10-percent.
'This is a great course for me.'
Rob Grube (63), Jimmy Walker (65), Jeff Curl (67) and Bubba Dickerson (67) shared fifth place at 12-under 201, with six players sitting another shot further back at 202.