It looks to me like it's not a problem with the visual c++ runtime, but rather a bug in Drift City. It is a Drift City runtime error, which means something in the program messed up while it was running.
Has Drift City ever worked for you, or did you just install it and it didn't work? If it has worked before, what have you changed recently.
I suggest doing what the error says, and get support from Drift City's developers.