I heard this reference a couple times, and i'm probably misremembering the exact phrasing.
I'm not trying to be political here, but the context was the riots across the US.
Thanks.

This may be what you're thinking about but there have been other instances at protests:

Youtube Video

Teenagers who live in places where the winters are hard sometimes do doughnuts on ice for fun.

Youtube Video

The usual verb is "do" rather than "make".  They were doing doughnuts in the parking lot and hit a light pole.  "Making doughnuts" usually refers to literal edible doughnuts.

If could refer to all the damage they are doing to their cause by rioting and destroying cities.  It may look impressive but it ruins your car (cause).

You may be referring to "circular firing squad".

That refers to a group of people (in this case the left) shooting at their fellow "liberals" while trying to take control.