On the blue/pink path, you can use a mushroom across the chocolate for a tighter turn.
On the final turn, you can use a mushroom through the donut while drifting.
Strategies
A Bob-omb can be deadly if placed right before the glider ramp. Alternatively, a trap can be placed at the end of the split paths or before the donut shortcut.
The best times to use power items(excluding the Lightning) are right after the split paths and before the donut.
With the shock, you can use it while a lot of people are on their gliders in order to cost them 6 coins.
The pink path is slightly better than the blue path because of an easier drift after the ramp.