That car was built for doing that. Its a HEMI powered torque monster with no weight in the front, due to torque and weight transfer, it basically pops up on the back wheels and "walks" down the drag strip, its not like it could accellerate down the track forever like that.
In the game, the trick works on the aerodynamics of the car, and doesn't work till its in the 200 mph zone. Due to the physics of the game, it just wheelies and keeps accellerating.
If you want to know what would really happen to the cars, look up the RX7 Top Speed salt flats car that lifts starts doin a wheelie at 180mph, and then continues to flip over.
Cool video though. There was another one called "The little red wagon" or something too, which was a truck with a rear mounted HEMI. Watchin the video with the two of them walkin the quarter side by side was pretty cool.
