Participants usually run for a mile or two while the other teammate rides. He/she dismounts and begins running. When the other runner catches up to where the horse is tied up in the woods, they jump on until passing the teammate.
This course is quite hilly, so it should be a good challenge. Typical finishing times for 8 miles is 1.5-2.5 hours. All three team members need to be across the finish line before the official time is recorded.
This is a link to a Runner's World article on a father/daughter team.
Photo from an unknown race.
I can see Lou and Mike W. teaming up for a race like this, except they will use a mule in honor of the Erie Canal. Of course her name will be Sal and the first race will be 15 miles (think of the song).