This is a VERY fun module. The key points to make it exciting and fun for your players depend on the section. In the first part, let them explore and investigate as they please. Being familiar with the Port Nyanzaru races as described in the ToA hardcover is highly suggested (and are used almost verbatim in the module, so no worries if you don't have access to the ToA HC,) and familiarty with real-world professional auto or horse racing culture can be helpful in fleshing out a vibrant series of encounters.
In the second part, it is all about keeping it fast-paced and exciting. The system of random rolls described in the module can be used but it is just as easy to adapt any system you are comfortable with to determine the interactions of the players and NPCs during the race. For inspiration, look to films and video clips with iconic chase scenes. Use classic tropes to your advantage; there's nothing more satisfying than seeing your players' joy when they discover their opponents are falling behind because of running into a random cart full of fruit...
The final part is a fairly standard combat encounter. Adjust as necessary, but there's nothing out of the ordinary. The stakes can be high, but that's at your discretion per usual.
Most importantly: have fun yourself. These are an exciting series of races. Pull out your best celebrity impression for an announcer (I went with William Shatner, myself,) or for an added challenge do two commentators. Your table will love it.
As for the important real-world details: even with my players doing their own "investigation" in the first part, we clocked in right at the two-hour mark. Your experience may vary, or course.