Imagine you fell out of a plane at 36,000 ft (11km), roughly cruising altitude, with a parachute. If you deployed your parachute immediately, you would be stuck at high altitude with no oxygen, and considering oxygen at 36,000 ft is roughly 25% of oxygen at sea level, you'd quickly lose consciousness and suffocate.
Now if you waited to deploy your parachute, you'd rapidly reach terminal velocity for that air pressure, and if you fell with your mouth open, basically, would the additional air pressure from all that air you're falling into compress the air into your lungs sufficiently to reach or exceed normal breathing pressure? So in theory could you just spend the first few miles/km falling and breathing, and then deploy the parachute once you pass into breathable air?