If like you say he traveled a mile before ending up in the lake why not just shut down the engine in gear and let the distance of the shut down bring you to a slow controlled stop or controlable speed?I have seen guys blow an engine at the stripe and leave the car in gear,not touch the brakes because of oil and get it slowed enough to exit the track to the return road,even using the resistance of a rearend spool to even slow it more while exiting and steering on the return road to a safe stop.Locking slicks up at speed isn't my idea of fun.