OK.

1 - Add velocity envelope at 300% (3 times faster)
2 - Right click media ==> properties, and change playback rate to 4 (12 times faster now (4*3)) - (note 4 times is the maximum playback rate)

If you wanna go even faster;

below the track there is a slider called playback rate, and move up to 4 times faster, so now the video is 48 times faster.

Play around with these values to get ur desired speed.

If you want to go even FASTER, i think u can only render that, and speed it up a second time.

Andrew