Because of grades he enrolled at North Greenville Junior College where he was the starting quarterback and a Junior CollegeAll-American. After 2 years, he transferred to Carson-Newman College where he was converted into a cornerback. As a junior, he contributed to a 10-0 regular season record. He led the team in both interceptions, passes defensed and interceptions returned for a touchdown. He established a school and a NAIA single-season record with 263 yards in interception returns. He also earned NAIA All-American honors in the long jump. As a senior in 1991, he became one of the NAIA top football players, finishing second in the NAIA and tied the school single-season record with eight 8 interceptions. His 199 yards in interception returns gave him 462 for a school career-record. He received the South Atlantic Conference's Defensive Player of the Year award, Little All-American honors and also played in the Blue–Gray Football Classic.
Holmes was selected by the Dallas Cowboys in the third round of the 1992 NFL draft. As a rookie, he was the fastest player on the team and was used mostly on special teams, finishing second on the team with 15 tackles and also registering a fumble recovery in Super Bowl XXVII. On August 14, 1993, during the first pre-season game, he suffered a torn anterior cruciate ligament in his right knee and was lost for the season. In 1995, he started 6 games at cornerback in place of an injured Kevin Smith, while free agentDeion Sanders reached a contract agreement with the Dallas Cowboys. That same year in November, the NFL suspended him for four games for violating the league's substance-abuse policy. A week later, the suspension was increased to one year. While suspended, he incurred in a fifth violation of the NFL's substance abuse policy and was suspended for 4 additional games. On February 10, 1996, he was released from the team.
Holmes signed with the Miami Dolphins on February 26, 1997, reuniting him with former Cowboys head coach Jimmy Johnson. Looking to play for the first time since November 1995, he failed another drug test that resulted in a 4-game suspension and his eventual release on October 13, 1997.
Holmes filed suit against the NFL for involuntarily enrolling him in a drug treatment program, after he tested positive for marijuana, but his claim was dismissed. His post-football life became a turbulent mix of personal problems and financial difficulties but he has got his life back on track since.