I have a trick that you and your friend to try! I like to call it "This Camera Guy Sucks". You just need one controller for this.
Basically, one person controls Mario and the other person controls the camera movement. It's kind of a competitive thing, so the camera guy has to try to mess the person controlling Mario up and screw with him/her. Sounds unfair, but if you're an experienced player…it would still be difficult.
1. For the cameraman, no pressing the C Up button. This makes Mario stop in his tracks.
2. No pausing for the cameraman.
3. No cheating, of course.
If you don't want to be competitive, there is another variant called "Better Than Lakitu". In this variation, the player controlling Mario tells the cameraman what to do. If he says "turn left", the cameraman turns the camera left. If he says "Second-person view" and "Lakitu view", the cameraman switches the camera mode from Lakitu mode to Mario mode and Mario mode to Lakitu mode respectively. If he says "Zoom in" and "Zoom out", the cameraman presses the C Up and C Down buttons respectively. If he says "Look around", the cameraman presses C Up twice to allow Mario to look around at a standstill. If he says "Stop" while the player controlling Mario is looking around, the cameraman presses C Down to allow Mario to walk again.
This version will come in handy if you're trying to beat the game, too.
Also, one rule:
1. No horsin' around, cameraman.
So, yeah. You might want to try one of those games with your friend next time you play Mario 64.
Wait…I just realized…this would make a great James and Mike Mondays episode! Yeah, that'd be awesome! Right?