I think it is a poor adaption of the figure 8 track idea a poster suggested to me quite some time back - the figure 8 idea being better because you do not have the cross over (but do require a special figure 8 track)
The cross overs in your idea Janelle would make the Steve Bradbury race look like a picnic, the crossovers could/would result in horse and driver carnage - the give way idea would never work as horses are not push button machines
Thinking further on how your idea could work would involve the outside horses having to be a fair distance behind the inside horses coming to the crossover but it only takes a straggler in the inside group to cause carnage