Hmm, drag racing only require that the car goes straight. Just about any front suspension should be able to do that.

Now if you're asking can it handle Watkins Glen, no. But the front suspension wouldn't be the only reason. With a couple of mods it'll handle as well as any run of the mill family type car.

Basically, put discs on it and relocate the front shock is the majority of it. If you want it's also possible to put a power rack in them. But that would probably necessitate a different steering column. Which is probably a wise thing.