Easy fix for this. Just make sure that as soon as the light turns red, big steel spikes come up from under the road to stop or pierce any car that might try to outwit the system. Oh, and on both sides of the street to ensure that real high-speed idiots will be caught on the other end.
There was a big increase in physical barrier installations around govt. buildings after 9/11, so the technology has had a lot of time to mature.
It's probably not a bad idea for problematic intersections, although you'd also have to have tow trucks on standby to clear the daily wreckage, and pedestrians would still get hit with flying parts or when cars jump the sidewalk to avoid impact with the barrier, or dash through the emergency vehicle gap that would need to be included.
Would be a LOT of fun to watch, until someone's kid died as collateral damage.