McNally began his coaching career for the University at Buffalo in 1965 and also coached at Marshall University, Boston College and Wake Forest. McNally won himself a place in the U.B. Athletic Hall of Fame in 1982 in recognition of both his Bulls playing career (1961–1964) and also his coaching expertise. He was inducted into the Greater Buffalo Sports Hall of Fame in 2008.
Since his retirement, McNally puts on an offensive and defensive line teaching camps and clinics  and serves as a volunteer fundraiser with the University at Buffalo.
In the film We are Marshall, which tells the true story of a Football Team that was reconstructed after a tragic plane accident, the character of McNally is played by Ron Clinton Smith.