The OED2 has hit and run in the automobile sense from 1924.
The baseball sense is older. The OED2 has it from 1899, although it’s not clear from the brief citation whether the sense is exactly the same as used today:
1899 Chicago Daily News 2 May 7/1 A rare combination for the hit-and-run game.
The familiar sense appears a bit later:
1904 R. H. BARBOUR Bk. Sch. & Coll. Sports 188 Team batting. The best known example of this is what is called the sacrifice hit or ‘hit and run’. Ibid. 191 The ‘hit-and-run’ play may also be used when there is a man on third and a run is badly needed.