I'll address not so much the answer, but how YOU can pursue the answer.
The most elegant troubleshooting approach is to use a debugger to get insight as to what is actually happening: How do I debug Ruby scripts?
That said, I rarely use a debugger -- I just stick in puts here and there to see what's going on.
Start with adding puts "testing #{i}"
as the first line inside the loop. While the screen I/O will be a million times slower than a silent calculation, it will at least give you confidence that it's doing what you think it's doing, and perhaps some insight into how long the whole problem will take. Or it may reveal an error, such as the counter not changing, incrementing in the wrong direction, overshooting the break conditional, etc. Basic sanity check stuff.
If that doesn't set off a lightbulb, go deeper and puts
inside the if statement. No revelations yet? Next puts inside is_prime(), then inside is_prime()'s loop. You get the idea.
Also, there's no reason in the world to start with 600851475143 during development! 17, 51, 100 and 1024 will work just as well. (And don't forget edge cases like 0, 1, 2, -1 and such, just for fun.) These will all complete before your finger is off the enter key -- or demonstrate that your algorithm truly never returns and send you back to the drawing board.
Use these two approaches and I'm sure you'll find your answers in a minute or two. Good luck!