The prize for completing this challenge is bolts.
When the you start a "square" shaped collection of platforms will be in front of you, all of which shoot out flames. Timing is important so take your time figuring out when the best moment to jump is. The gap in the middle of the "square" is impossible to cross, so you will need to go round the gap, while jumping over the flames. If you mis-time your first jump onto the platforms it is possible to change the pattern you will follow (when the flames will reach you) by either jumping back to the starting platform, or hovering with the Thruster Pack/Heli-Pack. After clearing the first flame platforms you must stand on a switch and a route will be selected at "random." For this challenge the door on the right will open.
After taking a few steps forward you will see a long line of flame jet platforms. While it is possible to walk across and jump the flames when they reach you, it can be hard to do as the flames move quickly at an arkward angle, an easier method is to wait until the flames (in their pattern) are about three-quarters of the maximum distance away from you (they move away from you) and then activate the Jet Boots, you do not have to worry about falling off as long as you start in a straight line, a rock wall will stop you from falling of the edge after clearing the platforms.
When you reach a wall of rock, turn right onto some steps, some small Hover Bots appear, the Plasma Whip or Suck Cannon is good for quickly taking them out; however, the Wrench will also do fine. Immediately after defeating the Hover Bots, turn left as two robots on floating platforms will fire at you, if you used the suck cannon previously, fir the projectiles at them, otherwise try using a simple weapon like the N60 Storm. After defeating them equip a close combat weapon, such as the Shock Cannon and walk towards the tunnel leading to the next area, Robot Ninjas will then attack, they can easily be taken down in a couple of hits as they attack up close.
The final section of this challenge is a walkway with some metal blocks moving in and out. These blocks can easily push you into the lava, so that it is important to time your run correctly. A good tactic is to jump on top on the first block when it pushes out and then jump on top of the blocks to reach the end so if you fall you have a few seconds to make a run to the end before being pushed off. After getting past this section, enter the tunnel to complete the challenge!