It goes without saying that you should definitely not try this at home. Nelson is apparently a professional drag racer, and an internet search indicates this isn't his first fiery burnout rodeo. According to a comment that he left on the video, Nelson's racing suit is fire resistant, and there were "around a dozen" fully equipped fire marshalls onsite in case the stunt got out of hand.
For his flaming good video, Nelson won himself a GoPro award, and, as of this writing, around 230,000 views on YouTube. Well done, Dave.