He is the son of Maria Annina (nee Benedetto) and Angelo Joseph Punaro, a decorated Army veteran for his service during World War II.

Punaro later served as an adjunct professor at the Walsh School of Foreign Service at Georgetown University for ten years (from 1990–2000) where he taught an annual graduate-level course entitled "National Security Decision Making.”[3] In 2011 Punaro was inducted as a Grady College Fellow of the Grady College of Journalism and Mass Communication at the University of Georgia.

[9] After graduating from Spring Hill College in 1968, Punaro volunteered for military service in the United States Marine Corps.

He served on active duty as an infantry platoon commander in Vietnam from August 1969 to January 1970 where he was awarded the Bronze Star for Valor and the Purple Heart.

Punaro completed his active duty obligation in 1972 and subsequently joined the Marine Corps Reserve where he served until October 1, 2003.

In December 1993, he completed a tour of active duty as Commander of Joint Task Force Provide Promise (Forward) in the former Yugoslavia.

In his work with Senator Nunn and the Senate Armed Services Committee, he was involved in the formulation of all major defense and intelligence legislation including the beginnings of the All- Volunteer Force, the Goldwater-Nichols Defense Reorganization, the Packard Commission Acquisition Reforms, the creation of the Special Operations Command, the draw-down after the Cold War, the first Gulf War, gays in the military, and expanding billets for women.

[19] In 2013 Punaro and his oldest son formed IronArch Technology, a firm providing next generation IT and business transformation solutions as well as consulting and advisory services.

[21] In 2014 Punaro was named to Wash100, the premier group of leaders who create value and execute strategic vision at the intersection of the public and private sector.

[28] Punaro is the author of the book, On War and Politics: The Battlefield Inside Washington's Beltway, that was published by the Naval Institute Press in October 2016.