Where the term tank slapper came from is when a motorcycle's front wheel starts wobbling back and forth in what is actually steering resonance.  Without a steering dampener or some other outside force the action of the wheel going back and forth will only get more violent and eventually cause what is called a high side where the rider is pitched off the bike.  While the front wheel is getting progressively more violent in its wobble so are the handlebars since they are attached.  Positioned right between the handle bars is the fuel tank and so the term was born.  I have found myself in a tank slapper more times than I care to think about it in the many years I have been riding.  Just one time is enough even if you recover from it without crasing.  It is probably the single scariest thing that can happen to a motorcyclist as you have little to no control once the process begins.  Here is an example of what a tank slapper is.  Notice how it starts out as a small wobble and gets progressively worse and eventually bucks the rider off?

http://www.youtube.com/watch?v=LZ1srcQMa_0

Now let's talk about what is happening in the car.  In an F1 car (or any car for that matter) they are going through a turn and the rear wheels loose traction.  Just like with any skid, the thing to do is steer into it to regain traction and then bring the wheels back to the direction you wish to actually go.  This is all driver initiated movements vs. machine and physics intiated.  It can be argued the rider initiated it by doing something wrong but the result is still the same that it will get worse unless the rider can save it.  This isn't the case with a car.  It can not and will not start flipping the steering wheel back and forth until the vehicle is beyond control recovery.  A car may still lose it but it will NOT be because the steering slaps back and forth on its own volition.

So please, if you are using "tank slapper" to refer to something in the automotive racing world, stop.  You're misleading on what is actually happening in the vehicle and really softening what is happening when a motorcycle goes into the same thing.  I hope the above description really explains what is happening well enough to dissuade you from using the term for a slide recovery in automotive racing.  There really is a huge difference between recovery and along for the ride.