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So you are sucking a lot of cold dry air into your throat and lungs which drys out the natural mucuses that exists there, and causes temporary inflammation and pain. This results in that burning sensation you feel in your throat/chest/lungs, which may or may not be accompanied by wheezing and coughing. It can be quite painful and quite distressing, but usually, it should subside within, hmm, about 15-20 mins after you stop exercising.
Pain that is felt in the region of the lungs may have several causes. 1  Inflammation -â due to an infection or another condition that causes inflammation in the lungs and surrounding areas.  Irritation â- for example, irritation of the lining of the lungs (the pleura), such as occurs with pleurisy.