I just did this battle yesterday (can send you a link to my YouTube video if you want to see what I did). First time through, I was able to hack my way past it, then I reloaded an earlier save and did it without hacking, just to see what would happen. I had 1000s of ammo of all types and took a level 32 deadeye assault rifle II and level 20 Thunder, a special named rifle that does shock damage. I also had the mind control science weapon, which seemed to help against the drones. Felix and Max were with me but went down pretty quickly, and as soon as they'd get up they'd go down again. It can be time consuming but it's possible to win. I was on normal difficulty.
Keep moving, pay attention to your health bar, run around to let it regen on its own if you have to conserve the adreno. The drones come out in waves as you whittle down RAM's health, so stay away from him and put down the drones, then focus on him again. I would hide around the side of a pillar (or whatever those things were in the center with the hibernation chambers) and then just as RAM came into view, I'd fire several shots and run before he could rush me. Aim for his arm or back, not the shield (you probably know that). Right after he rushes, he will go into a brief recovery period, kind of bent over and still for a few seconds, that's a good time to shoot him a lot.
If you just can't do it, maybe backtrack and pick up some ammo or reload an earlier save and gear up a little more? Good luck.