On Wednesday's episode of CNBC's "Jay Leno's Garage," Christopher Forsberg, 2016 World Champion of Formula Drift racing, teaches Leno and guest star Tim Allen about drifting, the relatively new but fast-growing sport in which racers intentionally over-steer and lose the traction of their tires while skillfully maintaining control of their vehicles.

As Forsberg drifts past Leno in his Nissan 370, the host clutches Allen and the two men shriek gleefully. When the spectacle is over, Forsberg emerges in a cloud of smoke from the burnt rubber.

"I think I've got tuberculosis just standing here," says Allen.

When it's Leno's turn behind the wheel, he's a bit more cautious. He plows into cones, his drifts more like donuts. "We're going to go home," Allen jokes. "You just pack up when you're done, Jay."

Forsberg has been around since the sport's inception and is now one of the "iron-men" of the industry. In 2009, he became the first driver to win the title of Formula Drift Champion as well as the Triple Crown, and he broke another record in 2014 with a five-year podium streak, meaning that he never finished outside the top four.

His success has won him lucrative endorsements from companies like Nissan, NOS Energy Drink, and Hankook Tires.