Rhoads was a prep special mention all-state free safety and valedictorian of his high school class at Ankeny, Iowa before lettering for three-years at Missouri Western State University from 1986 to 1988, where he played defensive back alongside Leland Williams.

He graduated in 1989 with a bachelor's degree in economics and was the recipient of the Chris Faros Scholarship, honoring the program's top senior student-athlete.

Rhoads began his coaching career under Chuck Shelton as a graduate assistant at Utah State working with the secondary.

After serving in the same capacity under John Cooper at Ohio State, Rhoads received his first full-time position as a defensive backs coach at University of the Pacific in 1992.

In 2004, Pitt ranked ninth nationally with 17 interceptions and Rhoads was kept on staff by new head coach Dave Wannstedt.

In 2002, coach Tommy Tuberville offered Rhoads a job to fill a vacant spot for defensive coordinator at Auburn.

[1] Having completed only his second season at Pitt, Rhoads passed on the job with Tuberville eventually hiring Gene Chizik.

However, when Will Muschamp resigned at the conclusion of the 2007 season, coach Tuberville again offered the job with Rhoads accepting to head the 2008 Tigers defense on January 17, 2008.

Rhoads had previously spent time at Iowa State as an assistant coach in the late 1990s and was raised only 20 miles from the school's football facilities.

Rhoads' contract was reported to be a five-year deal worth $5.75 million that included incentives that could increase total compensation.

[9] On October 17, 2009, Rhoads and the Cyclones defeated Baylor to end an 11-game losing stretch against conference opponents.

[10] On October 24, 2009, the Cyclones defeated the University of Nebraska on the road for the first time since 1977, inciting his post game speech which became nationally recognized.

It was only the fourth ever road win over a ranked team in Iowa State history, and the first occurrence since a 33–31 victory over Oklahoma in 1990.

Following a 38–35 loss to Kansas State on November 21, in which he came under heavy criticism for play-calling in the game's final 90 seconds,[17] Rhoads was fired as head coach, effective the conclusion of the season.

His wife, Vickie, was a basketball player at Missouri Western and his two sons, Jake and Wyatt, played football for Iowa State.