This is only an educated guess, but back in the early part of the 20th century, the main street in any given town was referred to as "the main drag". Since organized drag racing grew from street racing, if you challenged someone to race from one intersection to the next, you are racing on the "main drag", thus "Drag Racing". Now why the street in town was called the "main drag", well, that is another question to be answered elsewhere.
Old Skool Racer
There are many funny cars that are entered into drag races. A funny car is characterized as having tilt up fibreglass over a custom fabricated chassis.
no
A Rail.
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nitro / methanol / petrol!
Air Intakes or hood scoop
Anything motorized, it seems, thses days can be raced.
depends what drag racing your talking about cars ? bikes ? trucks ? my bike can go 169 mph at 8.88 seconds
some drivers drive their cars back while others are towed back by their crews
Drag racing illegaly.
Two drag racing cars go to the starting position, and the drivers wait for a light to turn from red to green. As soon as the light turns green, they floor the gas pedal and go as fast as they can up to the finish line. Then, the drivers deploy the parachute so they can stop, because a braking system would just weigh down the machine, and brakes are not adequate to stop a drag racing car from going over 300 miles an hour to 0. Then, the winners is announced with the exact times, and they start over with another pair of cars.
probably something like 330 mph - around that area