Hyperion is supposedly porting Midnight Racer or something like that to Linux.
Well, we'll see what happens with that, because last I heard, they weren't happy with Linux users because they are unloyal to Linux (they use WineX and/or dual-boot).
However, in the meantime, you could check out Quake 3 Rally, a total conversion racing game using Q3A: http://www.quakerally.com/
I'm gonna download it now and try it. Hope it works okay.