Growing up in Brooksville, Florida, Floyd attended Hernando High School, where he was selected for The Tampa Tribune's all-area football team in all three of his varsity years.

Kodak and Associated Press named Floyd to their All-America teams in 1980 and 1981, honors given annually to the best college football players in the United States at their respective positions.

[4] In Floyd's sophomore season, Hernando finished as Gulf Coast Conference (GSS) football champions.

[9][10][11] Floyd finished his senior season in 1977 with nine total interceptions, which established a school record that stood for four years.

[12][13] The Florida Sports Writers Association named Floyd to their second-team Class 3A[a] all-state squad in January 1978.

[4][16] Floyd's first start with the EKU Colonels came as a freshman against the Murray State Racers at roverback, where he led the defense with twelve tackles.

[20][21] The Colonels finished with an 11–2 record and defeated the Lehigh Engineers 30–7 to win the 1979 NCAA Division I-AA football championship,[b] the first in EKU's history.

[25] In a game against Youngstown State Floyd returned an interception one hundred yards, tying a conference record, and scored a touchdown.

[28] He won OVC Defensive Player of the Year, made the OVC All-Conference first-team, and was named a Kodak and an Associated Press All-American (an honor given annually to the best college football players in the United States at their respective positions) as the Colonels finished with a 10–3 record and lost to the Boise State Broncos in the championship game 31–29.

[24] Floyd won OVC DPOW for his performance in an October 24 game against Western Kentucky in which he had a sack, a pass deflected, an interception, and eight tackles.

[c][42][43] He finished the year with seventy-two tackles and ten interceptions; on special teams, he returned thirty-six punts for 314 yards and a touchdown.

[49] In Jets training camp, Floyd was the third-string free safety, behind starter Darrol Ray and Jesse Johnson, and competed for a spot as a kick returner with Kurt Sohn, Lonell Phea, and Kolas Elion.

[3][58][59][60] According to Pete Reinwald of the Tribune's, Floyd saw limited action over the season on special teams and as a backup safety.

[66][67] He was activated from the IRL in late October and became a starter in early November for injured right cornerback Russell Carter.

[61] Before reporting to training camp for New York, Floyd worked as a student teacher at Tates Creek Junior High School in Lexington, Kentucky.

[82] After the murder of George Floyd, an unrelated Black American man, in Minneapolis in May 2020, a photograph of the football player was erroneously included in a montage at the funeral.