Gaughan, 36, competed full time in the Cup Series during the 2004 season, finishing 28th in points with one top-five and four top-10 finishes in 36 starts. He competed full time in the Nationwide Series in 2009 and 2010, earning one pole and 17 top-10 finishes in 71 career starts. He finished ninth in points in 2009 and 11th in 2010.
Leading the effort for the No. 33 team will be veteran crew chief Gil Martin, RCR's Nationwide Series program team manager. Martin has been at RCR since 2000 and has served as crew chief for Kevin Harvick, Clint Bowyer, Casey Mears, Kerry Earnhardt and Robby Gordon.
"The opportunity to run four races for Richard Childress in the Sprint Cup Series is truly amazing,' said Gaughan. "RCR has top-notch equipment and teamed me with a winning crew chief in Gil Martin. Everyone deserves a second chance and I am ecstatic that my second chance in the Sprint Cup Series is in the No. 33 Chevrolet with RCR."
Gaughan's four-race Cup Series schedule will kick-off at Phoenix in March, followed by a doubleheader weekend where Gaughan will pilot the No. 33 South Point Chevrolet in both the Nationwide and Cup events at Las Vegas. Completing his 2012 schedule is Bristol (Tenn.) Motor Speedway and Auto Club Speedway (Fontana, Calif.) in March.