Pierre-Emerick Aubameyang’s first half effort was cancelled out by Vardy in the second period as the spoils were shared at the Emirates Stadium.
Arsenal substitute Nketiah was given his marching off orders in the 75th minute, four minutes after replacing Alexandre Lacazette when the Gunners were still in the lead, for catching James Justin with a high foot following a VAR review.
Nine minutes after Nketiah’s dismissal, Vardy scored Leicester’s equaliser but the England striker could have been sent off earlier when he caught Shkodran Mustafi in the face with his boot on the cusp of half-time, with the incident deemed accidental by the officials.
Arteta understands why Nketiah was sent off but is adamant Vardy should have taken an early shower as well.
Arteta said: 'The red card, he [Eddie] cannot see the player and didn't want to hurt anybody. You have to understand he is a young kid.
'It can be a red card but Leicester have to play for 10 men after 42 minutes. For one challenge between the 40 and 45 minutes.
'If we review incidents of that type we review them all. It has to be something equal for everybody because it changes the game for everybody. If Eddie is a red card for sure the other is a red card.'
Arsenal have climbed to seventh on the league log while Leicester dropped to fourth.
