Spray or generously wipe olive oil on sides and bottom of a shallow roasting pan large enough to hold both lamb racks; set aside.
In a medium bowl, mix the bread crumbs, grated Parmesan, rosemary, thyme, and parsley. Mash the minced garlic with salt and add to herb mixture. Stir in pepper and the 3 tablespoons olive oil.
Rinse lamb racks well and pat dry. Trim most of the excess fat. Place the them fat-side up in the roasting pan. Pat half the herb mixture on the fat side of each rack.
Roast for 10 minutes; reduce heat to 400° F and continue roasting for another 10 minutes, or until an instant-read thermometer inserted into the center of the meat is 120° F for rare. Return to the oven for three minutes more for medium rare. Remove from the oven and allow meat to rest 10 minutes before carving.
To serve, slice between the bones into individual chops, allowing about two per person.