Definitely one of the tougher challenges. When I first tried this I thought it was impossible. You need to beat 3m30s. Interestingly health isn't a major issue if you have a clean run, you will pick up some green gems on the way. The key is learning the route and staying ahead of enemy attacks. Use Gravity Slide through the tunnel of lava, learn the route that lines you up with the two checkpoints. In the lava tube with the checkpoints on wooden structures, use Gravity Kick to get each one and avoid the spiky Nevi. The final big room, try and get to each checkpoint accurately and don't dilly dally as you will get spammed by enemy shots. Use Gravity Slide on the last tunnel with the wooden track, steer away from the Nevi as you will end up kicking them and then getting shot from behind. Lift your right finger on the sharp bends to drift round them, don't be afraid to slow down to avoid falling off. I got 3m31s twice and failed to even finish the route many times. I finally did it in 3m11s even with a few mistakes, getting a good run on the Gravity Slide sections is most important.