This worked for me on 2014-02-20 after MUCH searching!
brew tap homebrew/dupes
brew install apple-gcc42
export CC=/usr/local/Cellar/apple-gcc42/4.2.1-5666.3/bin/gcc-4.2
export CXX=/usr/local/Cellar/apple-gcc42/4.2.1-5666.3/bin/g++-4.2
export CPP=/usr/local/Cellar/apple-gcc42/4.2.1-5666.3/bin/cpp-4.2
sudo mv /usr/bin/g++ /usr/bin/g++_apple
sudo ln -sf /usr/local/Cellar/apple-gcc42/4.2.1-5666.3/bin/g++-4.2 /usr/bin/g++
gem uninstall libv8
gem install therubyracer -v=0.11.4
sudo mv /usr/bin/g++_apple /usr/bin/g++
See also http://stackoverflow.com/a/21453272/120818