He was the great-nephew of President Venustiano Carranza of Mexico and the nephew of famed Mexican aviator Alberto Salinas Carranza. At age 18, he took part against thee Yaqui Indians's rebellion in Sonora and helped to put down the de la Huerta rebellion. While in Sonora, he crashed and his face had to be reassembled with platinum screws. At age 22, on May 24–25, 1928, he set the record for the third longest non-stop solo flight by flying 1,875 miles (3000 km) from San Diego, California to Mexico City in 18.5 h.
In the summer of 1928, he became a national hero when he was selected to undertake a goodwill flight from Mexico City to New York City in response to the previous year's flight from New York City to Mexico City undertaken by Charles Lindbergh. He landed at Roosevelt Field on Long Island and was honored in New York City by Secretary of Commerce Herbert Hoover and New York City major Jimmy Walker. While flying back from Long Island, he encountered a thunderstorm over the Pinelands of southern New Jersey and crashed on July 12. His body was recovered the following day.
In 2007, documentary filmmaker Robert A. Emmons Jr. completed and premiered a feature length documentary detailing the life of Emilio Carranza and the role of the American Legion Post 11 and the town of Chatsworth, NJ's involvement in his recovery and memorial.