I have heard this story, too, and all I have heard is the term 'footrace'. If it is indeed the 40yd dash, I think Rondo may have a hard time. I think Rondo is really really fast and, who knows, maybe he would have a chance, but football players really base their lives on this 40yd thing.
However, if the race is say, 200 meters or more, then I think Rondo would wipe the floor with Johnson. Rondo's build would allow him to go full speed for a lot longer than Johnson, so any long distance run would definitely be an advantage to Rondo.