‘Wind’ here is the noun, not the verb. It means air in the sense of breath, that is, the amount of air you have in your lungs — so by extension, your energy as a runner, your ability to run fast. When you’re tired from running, or from being out of shape, you get ‘winded,’ out of wind / breath, easily, so you often have to stop for a moment to get your wind back. So running wind sprints has to do with developing your wind, your ability to run without running out of breath too soon.
(Our internet is out so I’m typing this on a cell phone, so perhaps someone else would provide a couple of dictionary definitions, or you could yourself.)
I’m not athletic at all myself, but my impression is that wind sprints are, or were in past decades, perfectly common among athletes, not only those who run track but also in other sports where sprinting is important like American football. Some other term or training method may have superseded it in the 21st century, with so much computer monitoring of runners’ bodies, cardiac function, etc., I don’t know. But at least in the past, it was an absolutely mainstream term, not any exotic system or training method.