Unless you've got serious pads & s***e fluid it'd be very odd for brake fluid to boil before the pads glaze over. Your description does however match up with pretty much all other descriptions of boilding brake fluid.
Are we talking road or track (I assume track naturally, but you never know) You get similar "sponge pedal" symptoms for example if you just haven't used the brakes particularly hard for a while, e.g. motorway driving. Pads also get knocked on/off of discs by violent bumps (kerbs if we're talking track, wouldn't suprise me if a pothole could do the same) which causes more brake pedal travel to occur the before anything happens the next time you hit the brakes.
Bled the brakes/had fluid changed recently?