HEY DUDE ,
i agree with TJR.....better tires should do the trick!!!!
if u dont wanna spend the extra cash on tires then drop the tire pressure on ur tires to about 25 27 psi.
then warm them up a bit , spin them but dont smoke them !!!!
keep them spinnin at about 27 3200RPM , then stop .....and back into the starting burn mark.....its nice and sticky in there
that will allow u to launch at a higher RPM with minimum tire spin, then watch ur speed , dont FLOOR the GAS feather it till abotu 30 35 MPH then floor it and get a clean power shift!!!!
Ill bet u he wont beat u !!!!! BUT really forget about the rollin start, the M3 will benefit from it more then u , so y set ur self up..
U didnt mention any suspention mods??? do u have any???
if not look into South Side Lift bars, or other traction bars for about 250$ with those gears concentrate on gettin the power to the ground and hookin up , instead of buyin a blower.
Just for inspiration , i beat a M3 a 98.....with my 88 stang
all i had was pullies, broken exhaust from h pipe down on the right hand side and a holy glass pipe muffler(( remember those)) on the left...lol
a broken and loose upper controll arm on the left....a bold tire on the right rear a leaking manifold gasket, a short belt, 2.73 stock rear, and a transmission that was on its way to a grave yard

lolololololol...hahahahha.....what can i say i was a college student.....

...lololol
when we took off the red , he had the whole shot,....with my rear, i could have floord it from the begining not like u , so i was even with him by the time i powershifted .......
and i shifted b 4 he didand right there i got him by half a car more or less)) and thats where we stayed.....
good luck race again!!!