Private First Class Phipps was a member of Company B, 1st Battalion, 5th Infantry Regimental Combat Team. He was seriously wounded while fighting the enemy near Chabok-Tong, North Korea, on 31 October 1950 and died of those wounds later that day.

Phipps was awarded the Purple Heart, the Combat Infantryman's Badge, the Korean Service Medal, the United Nations Service Medal, the National Defense Service Medal, the Korean Presidential Unit Citation and the Republic of Korea War Service Medal.