Never been much into drift racing because it reminds me of figure skating. There is no finish line and you win based on a group of people that can't do it saying you did a good job. But it looks like a whole lot of fun if you have the right driving surface.
I would say at that price range the Tamiya TT02. But considering you need to spend $300 on upgrades just to make it a halfway decent RC, I would look at a Kyosho Fazer. Use the coupon codes on Tower to get it closer to your budget.