PR member loti suggested the use of a roller foot to accomplish the task and it worked beautifully.
The insert that came with my roller foot said the following: "Materials which are difficult to feed like vinyl, elastic, corduroy and leather can be sewn smoothly with this roller foot."
Rick rack is somewhat difficult to feed and the roller foot overcame the obstacle it presented.
Additionally, on my roller foot there is a little groove right in the center front which I kept aligned with the center of the rick rack and by doing so the line of stitching kept right in the center of the tape as it sewed along.
So the roller foot helped me in two ways: 1) it allowed for the rick rack and fabric to be fed smoothly through the machine and 2) it provided a visual marker so I could ensure the line of stitching was right down the center of the rick rack.