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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.
Causes of Nose Burning Sensation: The following medical conditions are some of the possible causes of Nose Burning Sensation. There are likely to be other possible causes, so ask your doctor about your symptoms. Sunburn. Allergy to cream/lotion.