In the U.S. Air Force, which rank is higher?

The Lt Col is an officer and therefore, trumps a CMSgt who is enlisted.

The short colonel

All officers are higher than the NCO's.
Check the pay scales to see if there is any gain as a Senior NCO
Chetak

Technically a 2nd Lieutenant his a higher rank than a Chief Master Sergeant, however if he ever attempted to exercise that and didn't treat the CMS with utter respect, the 2Lt would be ripped a new one, all the way up his chain of command.