After first reading this, I was thinking #2 was the correct answer. Upon further thought, I can think of almost endless possibilities. Here's just one....
You have his name and home address. Send a note to the Internal Revenue Service (in an envelope that's properly documented with his return address), and include a note about how you think you may have mis-calculated last year's tax return. Put $2 in along with the note, saying that it's just a portion of what you think you may owe. Mr. Offender will more than likely get to participate in an extremely fun tax audit, and you did't have to participate in a (potentially) dangerous confrontation. After 6 months or so, send him a note describing what you witnessed when he just missed that poor, lucky road worker. Obviously, do not include your return address. Tell him if you see him ride like that again, consequences will be even more serious than that audit. Mail it from some other town when you're out on a ride, or from the town nearest where the incident occurred.
That's a lot of entertainment and satisfaction for two dollars and a postage stamp.
(More than likely, if he keeps riding like that, karma, Murphy's Law, Darwin, or some other higher power will take care of business)