He was recruited by several top college programs and chose to accept a scholarship to play for coach Charley Pell at the University of Florida.
Over his career at Florida, Peace lead the Gators to a 28-12-1 record, four bowl games, and their first ever top-10 ranking in the final AP Poll (No.
During his junior season in 1982, Peace set an NCAA record for completion percentage (70.7%) which was broken by Steve Young the following year.
"[5] In the spring of 1984, Peace signed with the Tampa Bay Bandits of the United States Football League (USFL), who were coached by former Florida quarterback Steve Spurrier.
[8] Peace tried out for several other National Football League (NFL) teams over the next two seasons, signing briefly with the Miami Dolphins and playing in preseason games with the San Diego Chargers, but he did not make a regular season roster and decided to retire from football in late 1986.