A man and a woman, aged in their late 20s, have been flown to Melbourne in a critical condition after a possible street race gone wrong. 

According to Victoria police, a silver Ford and a grey Mazda crashed on Friday, about 9am, after repeatedly trying to overtake each other between Greta Road South and Snow Road near Wangaratta.

But instead, the cars crashed into each other, causing the Mazda to spin off the freeway into some trees.

The Ford also spun off the freeway, through the median strip and stopped on the shoulder of the northbound lanes.

The driver of the Mazda, a 27-year-old woman from Benalla, and a passenger, a 29-year-old man from Glenrowan were flown to Melbourne in separate air ambulances. 
 
The driver of the Ford, a 43-year-old woman from Wodonga, was taken to the Wangaratta Base Hospital for observation. 

An Ambulance Victoria spokeswoman said a man was flown to The Alfred hospital, while a woman was flown to the Royal Melbourne Hospital.

A spokeswoman at the Royal Melbourne Hospital said the woman remained in a critical condition, while The Alfred hospital spokeswoman said the man was critical but stable. 

Anyone who witnessed the collision or has any information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report at www.crimestoppersvic.com.au.