Quoted from jpinb:Mach 3
I saw the eBay link/picture and thought, "it's that flying laser disc game from the 80's", but I couldn't think of the name. Thankfully jpinb remembered the name of the machine I was trying to think of!
The picture of M.A.C.H 3 on KLOV seems to verify it: http://www.arcade-museum.com/game_detail.php?game_id=8471