I just beat this level yesterday!
It becomes easy... Once you know what the tricks are supposed to be, which the game doesn't tell you at all.
For me, these were the tips I needed:
- There's a dedicated button for burnout, which makes it super easy to do the 360
- the slalom only counts if you do the pillars on one side of the garage BOTH WAYS
- To do a backwards 180, drive backwards, then push one direction, then halfway through push the other direction.
Supposedly the PSX version also has a video in the options menu which shows you a dev completing the course, with button prompts on screen.
Oh, and there's a cheat code in-game to skip this level entirely.