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In this paper, we present a novel Model Predictive Control method for autonomous robot planning and control subject to arbitrary forms of uncertainty. The proposed Risk- Aware Model Predictive Path Integral (RA-MPPI) control utilizes the Conditional Value-at-Risk (CVaR) measure to generate optimal control actions for safety-critical robotic applications. Different from most existing Stochastic MPCs and CVaR optimization methods that linearize the original dynamics and formulate control tasks as convex programs, the proposed method directly uses the original dynamics without restricting the form of the cost functions or the noise. We apply the novel RA-MPPI controller to an autonomous vehicle to perform aggressive driving maneuvers in cluttered environments. Our simulations and experiments show that the proposed RA-MPPI controller can achieve similar lap times with the baseline MPPI controller while encountering significantly fewer collisions. The proposed controller performs online computation at an update frequency of up to 80 Hz, utilizing modern Graphics Processing Units (GPUs) to multi-thread the generation of trajectories as well as the CVaR values.