In the delay time of the Forward Collision Warning (FCW) system under Vehicle-to-Vehicle (V2V) communication, the traditional model assumes uniform speed of the host vehicle and error-free Global Positioning System (GPS), so as to significantly underestimate the risk of collision. Aiming at this problem, a new FCW strategy was proposed with correcting GPS errors and considering the movement state of the host vehicle within the delay time. Firstly, the overall workflow of the FCW system based on V2V communication was analyzed, and the key delays in the system were modeled by using the Gaussian model. Then, a collision avoidance model was established with correcting GPS errors and taking the movement state of the host vehicle within the delay time into consideration. And different warning strategies were formulated corresponding to three scenarios of the constant speed, acceleration and deceleration of the remote vehicle. Finally, in view of the situation where the host vehicle accelerated in the delay time, Matlab was used to simulate the proposed FCW strategy. Simulation results show that the average successful collision avoidance rate of the proposed warning strategy can reach 96%, verifying the effectiveness of it in different scenarios.