In this paper, we study the impact of edge weights on distances in sparse random graphs. We interpret these weights as delays and take them as independent and identically distributed exponential random variables. We analyze the weighted flooding time defined as the minimum time needed to reach all nodes from one uniformly chosen node and the weighted diameter corresponding to the largest distance between any pair of vertices. Under some standard regularity conditions on the degree sequence of the random graph, we show that these quantities grow as the logarithm of $n$ when the size of the graph $n$ tends to infinity. We also derive the exact value for the prefactor. These results allow us to analyze an asynchronous randomized broadcast algorithm for random regular graphs. Our results show that the asynchronous version of the algorithm performs better than its synchronized version: in the large size limit of the graph, it will reach the whole network faster even if the local dynamics are similar on average.