There's no current way, as far as I'm aware - if you wanted one, you'd probably want to consider re-tagging this question with feature-request.
That said - By providing an answer when someone else is already working on one, you wouldn't be getting in the way. There's a good chance that your answer will be better than theirs, and equally a good chance that theirs will be better. Either way, you may add information that the other answerer(s) don't and vice versa. I can see no reason why the fact that someone else is answering a question should be a reason to not provide another answer =) Unless of course the other person working on an answer is Jon Skeet, in which case I give up! ;-)