Isn't it possible to cap the frame rate of the .lgp archive for the bike scene?
:erm: Unless I've missed something big, the problem is that there isn't a single frame rate cap *anywhere* in the entire FF7 engine. Besides, you wouldn't be likely to find something like that in an archive.
I found a neat little app called CPU Killer
I'm pretty sure someone here figured this out a long time ago. Still, bringing it up again probably doesn't hurt. I'd recommend trying
Turbo (completely free) instead of CPU Killer, though.