So I've been recommitting myself to learning guitar properly. I've cracked open the old guitar books I found in the storage room and have been slowly building my chops back up from scratch. One thing that is EXTREMELY frustrating is how limp my ring finger is. It seems to lack the strength and dexterity all the other fingers possess, and always buckles up/straigthens out on chord transitions and discipline exercises. I also can't seem to flex/curl my pinky without dragging my ring finger down with it, too.

Does anyone have any exercises geared specifically toward improving the overall ability of the ring finger?

Just keep playing.. it will build strenght and control. And if you drink a little alcohol.. it'll loosen up the tightness.

There is a reason musicians tend to drink alcohol a little before a show.. it loosens everything up.