First off, wow... ???
There's no reason that his bike should be able to beat your bike. The question is going to be whether you can beat him as a rider. Do it right though. Practice, practice, practice! Be sure you're wearing ALL the safety gear. I would say don't even start down this road unless you have the leathers, boots, etc. If you want to race, then you should race. Of course it's dangerous, but so are plenty of other things that perfectly normal people do. Consider that there are no bluehairs, drunk drivers, or other similar hazards on the track. If you're going to go fast, the strip/track is the responsible place to do it.
To your wife: I'd like to recommend getting your own username and checking out the Ladies Lair here on the .org. There you'll find women who ride and women who don't. You are also certain to find several voices of reason on this matter. Overall the .org members are a safety-minded crowd with a common love for riding. You'll find a lot of mature, rational thought and conversation on all things motorcycle related. I encourage you to at the very least have an open-minded conversation with your husband about this before you veto the idea completely.
Best of luck.