LF, sure it would work, but the problem is keeping it cold. If you were to try to rig up a way to keep it cold in the car, it would take more energy to keep the fluid cold than you would get from it being cold, so a net loss. but if it were a setup where you would pour, say some liquid nitrogen in there just before a 1/4 mile run, it would be great, but would last any longer than a single 1/4 mile run.
