http://forum.sa-mp.com/showthread.php?t=143764I have tryied this and I can tell you that it's awesome!!
it has air races and bicycle races!! and it also allows you to create your own races, both ground and air ones!!
The bad side is that it automatically teleports you to the race start point by just typing a command, but I guess that you LW scripters could fix that, either by editing this script and removing the teleport feature, or by creating a "race lobby" (similar to the duel lobby) so players only can teleport to the race from there.