Credit for this solution goes to the user "Masa o piirakka" over on trueachievements.com who did this guide for the original release of the game.
Get a fast car - a class C or B vehicle already will do the job - and get so the location near the northern shore in Central (see map on picture) that looks like a large rotary traffic. Simply circle fast enough around the rotary traffic for two full minutes. You DON'T have to drive with full speed all the time, just over the speed limit of 60 km/h (~37 mph) so the counter won't stop. Also be aware, that if you are about to loose control (curving outward) you can release the gas pedal as for a short time to regain control again as long you don't fall below the speed limit.
If you want a more challening aproach, do what I did on the original release in 2012. Circle around town on the highway with a not too fast car (class C or B) and dodge the traffic and obstacles.