There were no active volcanoes in the Sinai.
What about the pillar of fire by night, the the pillar of smoke by day. Sounds pretty volcanic to me. The parting of the red (reed?) sea could have been caused by magma inflation of the earth and deflation.
While there may not be active volcanoes in the Sinai, there are on the West side of Saudi Arabia along the Red Sea. "The Encyclopedia of Volcanoes" (Sigurdsson, 2000), says regarding flood basalt fields, "They occur at hot spots where significant crustal spreading has occurred, for example...the fields in Arabia and Syria that parallel the Red Sea/Dead Sea rift systems. (pg. 287) On the next page, Figure 4 shows a "Sketch map of a moderate-sized flood basalt field: Harrat Rahat in Arabia....lavas under 0.6 Ma including those of historic eruptions in AD 641 and 1256"
The end plates of the Encyclopedia show 7 volcanoes along the northern half of Saudi Arabia's border on the Red Sea. I wish I knew more about those volcanoes, and when they might have been active.
That's nice, and could be of some help, but again, there's no way for a volcano that far away to show up in that way (pillar of cloud/fire), and the passage across the Gulf of Aqaba would have to involve major shifts of the Earth's crust. There's also the idea that the Israelites would have survived in close proximity to an erupting volcano, or for that matter, would have run toward it once close enough (having crossed the Sinai).