The Bulls started day two well placed at 5-307, but lost wickets at regular intervals on Sunday to be bowled out for 387.
NSW were in all sorts of trouble at 5-39 in reply, but big knocks from No.7 Edwards (104no from 132 balls)) and Matthew Gilkes (66) ensured the visitors went to stumps at a more respectable 7-237.
Konstas set tongues wagging in his Test debut when he unleashed an array of ramps and other audacious strokes on the way to 60 off 65 balls against the Jasprit Bumrah-led India on Boxing Day.
The 19-year-old flew back to Australia last week after missing out on a spot in the XI for Australia's second Test against Sri Lanka in Galle, with selectors keen for him to get red-ball experience at the Gabba.
Keen to prove he's not just a one-tricky pony, Konstas put away his ramps and slashes against the Bulls in a bid to dig in as wickets tumbled around him.
The rising star took 27 deliveries to get off the mark, producing a nice drive through covers to score three runs.
But it would prove to be his only joy, with Konstas out for three off 33 balls when he feathered Xavier Bartlett (3-54) behind.
Nic Maddinson (8) and Kurtis Petterson (1) had already fallen by that stage, and Oliver Davies (0) and Josh Philippe (9) were quick to follow as the star-studded NSW line-up crumbled.
But a 143-run partnership between Edwards and Gilkes thrust the Blues back into the contest.
Edwards brought up his century late in the day when he scored a single off Mitchell Swepson to exit the nervous 90s.
Earlier, Queensland's Jack Clayton (134) was only able to add one run to his overnight score before falling at the hands of spinner Chris Green.
Bulls allrounder Michael Neser scored 43, but Liam Hatcher (4-92) was able to clean up the tail before any major damage was inflicted.
The Blues (24.2 points) started the round in third place on a congested Shield ladder, two spots ahead of Queensland (19.31).Â
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