Alcohol is not gasoline. While flammable, it requires almost direct fire on it to get it to combust. I have poured alcohol on a hot down pipe and all it did was flash and evaporate.
By the time it hits the ground it typically has evaporated. You get a rag and douse it in alcohol, apply heat to it.. it wont auto ignite like gasoline will. There are no residual vapors. Unlike a gasoline soaked rag that will ignite big time a day after its dried.
I dont like running mix in the quest for making power. Our tanks have breathers on them, if it evaps a little.. big deal. Anything that could slosh out with the temps under the hood.. by the time it migrated away from the tank will have evaporated.
If utmost in safety is a concern, get a professional fuel cell and mount it in the trunk. Then run lines underneath the car. Actually if utmost of safety is a concern, stay inside your home.. dont drive. Let alone race a car.
Oil is combustible, transmission fluid is combustible, gasoline is combustible, there are plenty of liquids in a car that will ignite given the rite conditions. Alcohol is the least of your worries.
Now..
DrBooster, dont understand the question as it pertains to the amount being injested vs cooling. This question is to open to generalize a response. We did some testing on a non-IC Stage Buick a few months ago.. a lot was being sprayed. Look for the post "Hartmans Dyno" dont know if that was the one you were referring to.
Funny how the imports now ask the same questions that the Buick communitty was 8+years ago... And no Buick fires.. go figure.