She is 'racing against the clock' to be sure the assignment is handed in on time.
Her mind was 'racing'. [=she had many thoughts going quickly through her mind]
Researchers are 'racing (against time)' to find a cure.
(..) It's not what you've been told There's nowhere we won't go What's a beautiful girl like you doing racing in a place like this? - Winning. - Winning Shit, red light! Excellent! - Let's go! (..)1996 Foxfire