To find the overall average speed of a racing car that accelerates through three gears at speeds of 20 mph for 2 seconds, 40 mph for 2 seconds, and 60 mph for 6 seconds, the total distance and total time must be calculated. The total distance is derived from the formula distance = speed × time for each segment, resulting in 40 miles, 80 miles, and 360 miles, respectively. The total time is 10 seconds. The average speed is then calculated by dividing the total distance by the total time, yielding an overall average speed of 48 mph. The discussion emphasizes the importance of calculating total distance and time to determine average speed accurately.