We show that self-pulsating vertical-cavity surface-emitting lasers can exhibit vectorial chaos, i.e., chaos in both intensity and polarization. The achievable synchronization degree of two such lasers is high when using a continuous control scheme and unidirectional coupling. We propose a novel encryption scheme, where the phase of the vectorial field is modulated. Therefore, the total intensity of these lasers remains synchronized while the intensities in the polarization modes (de)synchronize following the phase modulation at a ps time scale. This technique allows for transmission of secure data at high bit rates that are not limited by the relaxation oscillation frequency.