intercoolers

There is a product that exists that does about what you are describing. It is for Mustang Cobra's and Lightnings but it probably can be adapted to anything.

http://www.killerchiller.com/

It is the going from a liquid state to a gaseous state, evaporation, that creates the cooling effect. So technically, it should enter as a liquid, evaporate, and leave as a gas.

The issue with this idea is this… It can't provide enough continuous cooling, just like an air to air, it can store some "cold" and work better with quick stabs, IE, drag racing. Except there is better ideas for this situation, like using ice water in an air/water system.

For continuous use, a typical car a/c could provide from 12 to 24 thousand btu/hr.

Specific heat of air is about .24 (it changes with temp and pressure, but it is negligible, around 1-2% change in what the car will see.
Good guess for 300HP is 33 pounds of air per minute, or 1980 pounds per hour.

Do the math and perfect scenario is it could drop temps from 25 to 50 degrees, but the world isn't perfect. So figure more like 20-35 degrees with a 2-4hp drag. But that's at 300 crank HP. As the HP and air flow goes up, the temperature drop goes down.

Any air/air is going to out perform that.

So, say you run it secondary to an air/air. With a 20 degree air temp drop, but extra 3hp drag, and extra pressure drop through the heat exchanger, added weight and complexity.... it becomes pretty silly.

I see your point, thought I would toss it around. I did some research on the interweb after( unfortunately) I posted this and came up with similar explanations. Admins feel free to kill this thread