The 23-year-old, affectionately known as 'Tight', was caught travelling at 214 km/h in a 60 km/h zone and was nabbed by police officers on the N1 south between Kranskop and Mantsole at around 08:50 on Tuesday.
He was then taken to the nearby police station in Bela-Bela where he was later released on R2 000 bail, and he will appear before the Magistrates' Court when his case resumes on January 10.
Molangoane has been in impressive form for Dikwena in the first half of the 2011/12 PSL season and is reportedly being monitored by Premiership giants Orlando Pirates, Kaizer Chiefs and Mamelodi Sundowns.
Stars team manager Obed Legobathe refused to comment on the situation, claiming the matter was out of the club's hands.