I totally drifted in F355 in the arcade. I really only drifted a few turns, but when you drift you don't hit the checkpoints and it ends up costing you more money. So... what you gotta do, is have a friend linked with a race. The friend just keeps racing normal to get the checkpoints and you can drift with all the time you want. I ended up doing that and worked on my racing line and my friend was drifting the whole time and then we switched roles.
If anyone lives in the Detroit area, we should meet up at gameworks on a Sunday and get the 2 hours of power and just do that the whole time. It would be awesome.