OR,
...You can take two of your cars and position them close together on a track in 2-player splitscreen mode. (you need two separate controllers, but not a separate player). Then use photomode during replay mode to capture both of your cars at once. You CANNOT use photomode in the replay that automatically plays after the 2P-race. You'll need to save the replay in the race menu after completing/exiting it, and then access it in GT-life menu (in the 'Replay Theatre' section). There, you'll be able to access photomode when the saved replay is paused.