The "race to 21" strategy in blackjack revolves around the goal of maximizing one's chances of reaching 21 or as close to it as possible without busting. To implement this strategy effectively, players should focus on making calculated decisions based on their hand value and the dealer's upcard. This means hitting when the potential to improve their hand exists, particularly when they have a total that is significantly below 21, while also considering when to stand based on the likelihood of the dealer busting.