Rodney Thompson and Demarcus Vance were passengers in the vehicle.
A third man, who Monroe County Sheriff Cecil Cantrell said was driving the later model Pontiac Grand Am, fled on foot.
Cantrell said they have identified the driver who fled by talking to one of the victims and finding his wallet.
Cantrell said he and some of his deputies had responded to a call on the side of Highway 25 and were on the shoulder of the road with their blue lights on when the car came past them at a speed Cantrell estimated to be close to 100 miles per hour.
The two victims were alive as of Saturday evening.