Reigning champions Queensland were teetering at 6-168 in the 38th over, only for Cutting to lash nine enormous sixes and lift his side to the highest total of the season - 8-305 from their 50 overs - at North Sydney Oval.
The end of the innings came with Cutting just shy of a maiden one-day century and within sight of Luke Ronchi's record fastest century in the competition, achieved off 56 balls in the 2006/07 season.
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In reply Victoria scored runs at a consistent rate, but were always hampered by a regular loss of wickets in the rematch of last year's finalists.
Rob Quiney hit a run-a-ball 59 for the Vics while the in-form White reached his third half-century in as many matches before being caught on the boundary.
Earlier, Victoria's Test paceman Peter Siddle bowled with good speed and bounce in taking 3-43 off his 10 overs in his first outing of the domestic season.
Opener Khawaja staked his claim for next month's first Ashes Test, looking solid throughout his knock of 62 from 80 balls, before tickling a bottom edge to the wicket-keeper off the bowling of Dan Christian.
However, Victoria's early good work with the ball was undone as Cutting helped Queensland wallop 117 runs off their final 10 overs.
Despite his batting heroics, Cutting said he hadn't done anything different in his approach to batting.
"I knew with the short boundary and wind going across the wicket we could pick up any number of runs," he said.
"If anything I have been working more on my bowling than my batting."
Cutting was reluctant to be drawn on the possibility of Australian selection.
"If it happens, it happens," he said.
"I just have to stay on the park, and stay fit."