Ages ago (early 1980s) I read a magazine article about the minds' adaptation when falling. The article posited that the brain kicks into high gear and time subjectively slows down for the faller, enabling them to take action to save themselves.

The article had several first-hand accounts of people who had fallen off cliffs, wagons, and the like, and one skydiver who survived impact by landing in a muddy ditch. The article was especially interesting since I was a skydiver at the time and all of us jumpers could relate to the feelings described. Not only that, but the one skydiver interviewed had jumped at our drop zone and was known by most of us.

Sadly, I can't remember where the article appeared. I think it was Smithsonian Magazine but I have been unable to locate a reference online. If anyone else locates it, please post.