Combine dry ingredients to create rub. Set aside.
Preheat oven to 125 degrees. Using chef knife, remove outer layer of fat from rack of lamb, and slice rack into chops. Lightly coat each chop with olive oil and place on baking sheet. Lightly sprinkle rub over chops. Bake to warm for 15 min. Finish by searing on hot grill over medium flame, about 4 minutes on each side for medium rare.