Billy Foster, Art Pollard, Dick Simon and later Indy 500 winner Tom Sneva, his brother Jerry Sneva, Eldon Rasmussen and Cliff Hucul raced in the Indy 500 after graduating from the CAMRA series.

He drove a modified built and prepared by his brother Jerry Malloy and in 1964 and 1965, he won the CAMRA championship.

He was hired by the Jim Robbins Race Team to drive USAC Indy Cars.

His car broke a rear constant velocity joint and hit the 4th turn wall at the end of the pace lap, putting himself out of the race even before the start.

But when LeeRoy Yarbrough crashed hard with one of Dan Gurney's Eagles, his injuries were severe enough that he could not compete in the Indy 500 in 1971.

Dan Gurney asked Malloy to pilot the Eagle in place of Yarbrough.

In his Champ Car career, he finished in the top ten 23 times, with his best finish in 2nd position in 1969 at the Milwaukee Mile, driving for Vel's Parnelli Jones Racing in a substitute role for the injured Al Unser.

During the practice session on May 14, he was attempting to break the 200 mph (320 km/h) speed barrier (which other Indy drivers were trying to do at the time) when his car mysteriously cut sharply to the right and crashed head-on into the outside retaining wall confining Turn 3 at about 186 mph (299 km/h).