You can run the Mac version on SheepShaver emulating Mac OS 9.0. Quicktime 4 is required on the machine to avoid crackling audio. The Mac version has an unlimited framerate.
1. Download SheepShaver, emulate a suitable PowerPC.
2. Find and mount a hard drive image with System 9.0 installed.
3. Install Quicktime (Quicktime VR is required).
4. Install IndyCar Racing 2 via a mounted CD.
5. IndyCar Racing 2 runs in a window 640×480, I recommend setting the desktop to that size and the program will appear fullscreen.