Lane was born in San Francisco, California. She started training for dance at Classical Ballet Memphis in Memphis, Tennessee. Her family later moved to Rochester, New York where she continued her training at the Draper Center for Dance Education. At the age of 16 she attended the Boston Ballet's Summer Program on a full scholarship. At the North American Ballet Festival in 2000 and 2001, she won first place and received the Capezio Class Excellence Award.

In 2002 she received the highest medal in the Junior Division of the Jackson International Ballet Competition. During that time she also performed at the Kennedy Center in Washington, D.C., as a presidential scholar in the arts. Also in 2002, she won the bronze medal at the Youth America Grand Prix Competition.

Lane joined American Ballet Theatre as an apprentice in August 2003, became a member of the company's corps de ballet in April 2004. Lane was the June 2007 cover model for Dance Magazine. She was appointed a Soloist in August 2007 and was promoted to Principal Dancer in September 2017. Her promotion was announced following four successful role debuts - the titular role in Giselle, Odette/Odile in Swan Lake, and a leading role in Souvenir d'un lieu cher - as part of ABT's 2017 season at the Metropolitan Opera House. She also originated the role of Princess Praline in Whipped Cream. The New York Times called Lane's debut in Giselle “distinguished.” Her term with ABT ended in 2020.