I could not get this to unlock in Quick Race or Split Screen even though I won. I had to to do it in Career Mode.
I chose the Class II Event "Hot Sands" because the track is short and relatively easy.
My Setup• Lunare Scuderia GT10 Veloce (fully upgraded)
• Repair Drone (Level 3)
• Augmented Propeller (Level 2)
You will gain a set amount of points per second based on your position. Try to collect as many boosts as possible as they grant you 10 points. Additionally, setting the fastest lap will net you 50 points. A clean lap also earned bonus points and I got a 20 point bonus several times for "Speed Trap", though I am not sure the exact speed needed to trigger it. Finally, try to keep your ship from exploding as there is a -10 point penalty for respawning, not to mention you will probably lose several positions. This is why I chose the repair drone as a powerup. When my health got too low I would press
to begin repairing the ship. Good luck!