I am not so sure this is working the way it should.
I used a pair of IR receivers hooked to digital pins 8, 9, 10 (only two of the sensors are used thou) based the time code off SparkFun's Toy Car Speed Trap https://codebender.cc/sketch:349843#Toy%20Car%20Speed%20Trap.ino
Output to serial console for now... and added a conversion from meter/sec to mph