Born in Dallas, Texas, Ray began his competitive career by attending SCCA driving schools in September 1991. By 1992, he was competing in Formula Ford 2000, where he secured seven podium finishes and the series championship, setting a track record for the category at Sears Point Raceway.
In 1993, Ray moved into the SCCA national Formula Atlantic championship, winning the title. He transitioned to the CART-sanctioned Toyota Atlantic series in 1994, driving the same car from his previous season. He won races at Phoenix International Raceway, Mosport International Raceway, and the Milwaukee Mile, finishing the year with six pole positions and the series championship. In 1996, he competed in the Indy Lights Championship for Team KOOL Green, finishing 12th in the standings with a season-best second-place finish at Milwaukee.
Ray made his Indy Racing League (IRL) debut in 1997 for Thomas Knapp Motorsports. Driving an unsponsored black No. 97 Dallara-Oldsmobile, he competed in five events. His first Indianapolis 500 start that year resulted in a 25th-place finish following a water pump failure.
Ray’s profile rose during qualifying for the 1998 Indianapolis 500. Still driving Knapp’s plain black No. 97 car, he qualified second on the grid between A.J. Foyt Enterprises drivers Billy Boat and Kenny Brack. The performance attracted sponsorship from the national anti-tobacco campaign and local businesses, leading the entry to be called Ash Kicker Racing. Ray led 18 laps of the race before a gearbox failure ended his run. Later that season, he finished second at Texas Motor Speedway and completed a two-race stint for A.J. Foyt Enterprises as a substitute for the injured Billy Boat.
In 1999, Ray signed with Team Menard to drive the No. 2 Dallara-Oldsmobile. Despite retiring from the first three races, he secured the IRL championship by winning three events: the Radisson 200 and Colorado Indy 200 at Pikes Peak, and the MBNA Mid-Atlantic 200 at Dover Downs. This was the only season in which Ray finished in the top ten of the points standings.
The 2000 season was marked by high qualifying speeds but poor race results. Ray earned six pole positions in nine races, including the pole for the Indianapolis 500. In that race, he battled CART champion Juan Pablo Montoya, leading 26 laps before crashing on lap 67 and finishing last in 33rd place. He won the Midas 500 Classic at Atlanta Motor Speedway later that year but dropped to 13th in the final championship standings.
The 2001 season saw a breakdown in the relationship between Ray and team owner John Menard Jr. Although Ray won at Atlanta Motor Speedway and took four poles in the first ten races, he struggled to finish. At the Indianapolis 500, he qualified second and led 40 laps but finished 17th, eight laps down. Following the race at Kentucky Speedway, Ray and Menard split. His replacement, Jaques Lazier, won in only his second start for the team. Ray finished the year driving for A.J. Foyt at the season finale in Texas.
In 2002, Ray acted as a substitute for Eliseo Salazar at A.J. Foyt Enterprises. At the Indianapolis 500, he started 31st and crashed after 28 laps, marking his second 33rd-place finish in three years. He ended the season driving two races for Sam Schmidt Motorsports.
In 2003, Ray formed his own team, Access Motorsports. The team utilized a Panoz chassis with Honda engines and was sponsored by TrimSpa. Ray achieved several eighth-place finishes, including at the Indianapolis 500 and Kansas Speedway, finishing 15th in the championship despite missing three events.
The team returned in 2004 with sponsorship from Renovac and Rent-A-Center. Ray qualified second at Twin Ring Motegi and finished seventh at Texas Motor Speedway. However, a lack of consistent sponsorship forced the team to withdraw from the Kansas round. Ray finished 23rd in the points, and Access Motorsports closed at the end of the year. Ray retired from professional racing after failing to secure a drive for 2005.
As the 1999 IRL champion, Ray was invited to compete in the International Race of Champions (IROC) in 2000. Representing the Indy Racing League in a Pontiac Firebird Trans Am, his best result was seventh at Talladega Superspeedway. He finished 11th in the IROC standings.
Ray’s career was defined by his qualifying pace, particularly at the Indianapolis Motor Speedway where he started on the front row three times (1998, 2000, 2001). In total, he achieved five wins and 13 poles across 74 IRL starts. His likeness appeared in the video games Indy Racing 2000 and IndyCar Series 2005.