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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.
Pneumothorax is a condition that is characterized by the leakage of air into the space between the lungs and chest wall. This air exerts pressure on the lung, thereby causing it to collapse. It can give like sudden chest pain when breathing in. Also, the affected individual would experience breathing problems. Chest pain, shortness of breath, and cough could be caused due to a pulmonary embolism. This condition occurs when a blood clot that travel to the lungs from other parts of the body (mainly legs). Other symptoms include fever, clammy skin, excessive sweating, irregular heartbeat, etc.