Well, based on Perfect Chaos' comments... I like Flamethrower first to defend against a 4x-strong STABbed Ice attack. EQ is good for Fire and Rock types that will be tough against Flamethrower. Dragon Dance is pretty much essential to Rayquaza.

Let's then look at the strengths and weaknesses against your two attacks...


Flamethrower
Strong against Grass, Ice, Bug, Steel
Weak against Fire, Water, Rock, Dragon

Earthquake
Strong against Fire, Electric, Poison, Rock, Steel
Weak against Grass, Flying, Bug


I like Ice Beam for a final attack in order to give you a lot of coverage against many different opponents. It still leaves you a bit vulnerable to Water types, but EQ should manage well enough. Ice Beam trounces Flying and Dragon Pokemon, which might otherwise pose some problems. Ground types will also bite the dust quite quickly.

You could try to sub in Dragon Claw for one of the two special moves in order to take further advantage of Dragon Dance, but I think EQ is a good enough physical move. Besides, D-Claw isn't a very powerful move, anyway. The two special strikes, a powerful EQ, and the speed boost from DD should be good.


Flamethrower
Earthquake
Dragon Dance
Ice Beam


As for items, Leftovers is good enough. That's never been my specialty, but PC's suggestion seems sound.