This shortcut is a little tricky to pull off, but worth it. Drive around the track until you reach the part where the paths overlap. Turn sharply to the right, and jump to get onto the guardrail. Lakitu will tow you back to the track, but this time jump over the guardrail into the abyss. The closer you can jump toward the other section of track, the more likely you are to be towed to the other side.
Mario Kart 64 Shortcut Video Walkthrough Series for Nintendo 64
Mario Kart 64 - Toad's Turnpike Shortcut Video
