To obtain such a term with the "-ing" ending gerund (noun) or participle (adjective), means it must have a verb parent. and that would mean also creating the infinitive "to racelie."
Laz, I doubt you can make this stick. It wouldn't likely become popular because it's too hard to spell, too ambiguous, and not very euphomius or self-descriptive.
You might want to go to a dictionary or thesaurus and find a synonym of "falsehood" that would work well as a verb when joined to "race." For instance, two a couple of coined terms might be "racefib" or "raceforge." You need to find something that will take the public's fancy and explain itself without having to break it down in lexicographical style to explain it.
Find something that implies assuming or projecting a false identity, like:
"He blackified himself by racefibbing into another pigmentated class."
Or something like that.
Thanks for your thoughts, but the English language is rife with inconsistent conjugation or other grammar constructs.
I’m sticking with this one. You’ve identified the different forms this word will take. They’re fine.
Don’t be a Wordpressor. :)