The thing here is, that you can make the whole driving simulation thing almost infinitely complex here (taking in account various things like material of the tires, the material of the road, the wetness etc). It really depends on how realistic you want this to be.
Basically what you want to do is
A) Create the circuit. The question here is with the inital 2D map - is it guaranteed to be a valid map, e.g. it's not just some 2D map of alternating black and white pixels? Is it guaranteed not to have any other colors (like red) inside that could cause undefined behaviour (though I think you could just assume that anything that is not black is something you can not drive on)?
Once you have a valid map, I suppose you could define the actual road as a vector of cubic bézier curves, especially if the width of the road is fixed - with bézier curves, you already have the tangent of your curve at any given point, so getting the normal you need to draw the road is trivial (I just saw it just needs to be 1 pixel width- in that case you don't even need the normal).
Here for info on the bézier curves :
http://en.wikipedia.org/wiki/B%C3%A9zier_curve
B) Now this is interesting. You'd have to calculate how much velocity you can have when entering a curve to be able to get through it, and based on that calculate how long you can accelerate on the straight before etc. You'd better read on the basics of motion laws again (anywhere in the internet, basically) and try to figure something out.