What do you mean by "twin stick style"?
The N64 version of the game allowed you to plug a controller into port 1 and 3 (for player 1) and port 2 and 4 (for player 2). This would then let you use the stick on each controller to control each engine's thrust. I believe dustyjo is correct in that it was a feature only found on the N64 version, though I'd love to find out otherwise (maybe modding?)....
Oh, I tough he was talking about that, but I wasn't sure since I never owned an N64.
I was a bit dissapointed to find out that it didn't had it here tho, because I bought the sequel on the PS3 the other day and I was having a lot of fun playing like that, and I figure maybe this version had it too and I never realized as a kid. I think modding would be hard seeing how long it even took to get this game to get to run on modern computers, but it may be possible. Did the Dreamcast port had that feature?
Either way, you could always emulate the N64 version or get the sequel on PS2, 3 or 4 if you need that kind of gameplay (and I realize it's a sub-optimal solution, but it's the only one for now).