Overtaking on rural roads may cause severe accidents when oncoming traffic is detected by a driver too late, or its speed is underestimated. Recently proposed cooperative overtaking assistance systems are based on real-time video transmission, where a video stream captured with a camera installed at the windshield of a vehicle is compressed, broadcast through the wireless channel, and displayed to the drivers of vehicles driving behind. In such a system, it is of ultimate importance to deliver video information about the opposite lane with low end-to-end latency and good visual quality. In this paper, we propose reallocating the wireless channel resources in favor of the part of the captured video frame containing the image of the oncoming vehicle. To achieve this goal, we apply automotive radar for oncoming vehicle detection, and we use the image of this vehicle as a region-of-interest (ROI) for the video rate control. We present the theoretical framework, which describes the basics of such an approach and can serve as a useful guideline for the future practical implementation of the overtaking assistance systems. The benefits of our proposal are demonstrated in relation to the practical scenario of H.264/Advance Video Coding (AVC), IEEE 802.11p/Wireless Access for Vehicular Environments (WAVE) intervehicle communication standards, and currently used automotive radars.