If you're testing the animation by pressing enter/pressing the play button on the timeline, you can make it play faster by going to View > Preview mode > Fast.
If you're testing the animation by pressing Ctrl + Enter and you're using Actionscript, you can right click on the preview, click quality and set it to low.
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If you have sound in your animation and you're using ActionScript 3, you can set the sound sync to Stream in the Properties panel. That will make the animation skip frames to keep up.
If you are doing HTML5 Canvas there isn't Stream sync, but you can get the same effect with code. See my answer here:
If the animation is just going to be exported as video, or shown locally, you ought to use ActionScript 3, the sync issue will be solved, and it will perform a lot better.
Thank you so much! Syncing the audio with the animation worked perfectly!