Ally McCoist's side upset some predictions to see off the then in-form Steelmen at Ibrox last month.
They won with goals from Lee McCulloch and Dean Shiels, which gave the Ibrox men a 2-0 win in the Scottish Communities League Cup.
Next up for the Gers is a home clash against the Highlanders tonight as former Ibrox central defender Terry Butcher returns to Glasgow.
While Rangers' form in the Irn-Bru Third Division has been mixed in recent weeks, Caley Thistle have hit their stride in the top flight.
They have put together a six-game unbeaten league run to move up to fifth in the standings.
Butcher's men will fancy their chances of a rare Ibrox win, but Alexander is confident the Gers can raise their game again.
He said: "I am looking forward to the game as it is a great one for us to be involved in, especially as we are at home.
"It will be a tough, tough game, as it was against Motherwell in the last round, but the result that night shows that if we give it our all, if we give it one hundred per cent, then we are capable of great results.
"The boys took confidence from that success and we know that we need to match the performance we put in that night to win against Inverness."
While claiming the Third Division title remains Rangers' top priority this season as they bid to return to the top of our game as quickly as possible, the chance to add silverware to the cabinet will not be passed up by the Gers.
Victory tonight would clinch a last-four berth and Alexander is keen to succeed on all fronts.
He said: "The win over Motherwell was a great night for the fans and we put on a show for them which was great as they have been turning up in their thousands to back us.
"It was a tremendous night and the same again would be great.
"Although we cannot lose sight of the important SFL Third Division games we have to play, it is great to have a one-off Scottish Communities League Cup-tie to look forward to as well."