In this paper we propose a novel millimeter wave (mmW) multiple access method that exploits unique frequency dependent beamforming capabilities of True Time Delay (TTD) array architecture. The proposed protocol combines a contentionbased grant-free access and orthogonal frequency-division multiple access (OFDMA) scheme for uplink machine type communications. By exploiting abundant time-frequency resource blocks in mmW spectrum, we design a simple protocol that can achieve low collision rate and high network reliability for short packets and sporadic transmissions. We analyze the impact of various system parameters on system performance during synchronization and contention period. We exploit unique advantages of frequency dependent beamforming, referred as rainbow beam, to eliminate beam training overhead and analyze its impact on rates, latency, and coverage. The proposed system and protocol can flexibly accommodate different low latency applications with moderate rate requirements for a very large number of narrowband single antenna devices. By harnessing abundant resources in mmW spectrum and beamforming gain of TTD arrays rainbow link based system can simultaneously satisfy ultra-reliability and massive multiple access requirements.