The previous electronically-timed record for the event stood at 3:26.55, set in 2003 by Raffles Institution.
More than 0.4s was shaved off the 9-year record, as SSP came away with the gold medal.
In a top of the table clash, defending champions MJC consigned VJC to their first defeat in the championship.
Diane managed to fight off the competition, crossing the finishing line 0.12s ahead of Tanisha Moghe of Cedar Girls'.
Reuben came close to breaking the electronically-timed record for the event, missing out by a mere 0.08s.
Isaac Toh of Raffles Institution (RI) finished second in 58.01s while Muhammad Hazim of SSP was third in 58.46s.
Ethan Tan (#446, HCI) was second in 4:47.56 while Joshua Loo (#153, ACS(I)) was third in 4:48.13.
RI striker Jonathan Chua refused a penalty as ACJC recorded their seventh straight win.