My video camera records at 30 fps, I THINK, so I figured that to make the video play faster I'd just bump up the FPS in the composition settings. While rotoscoping, I realized that all it does is take 1 frame and make it go twice, to make a faster fps, it doesn't actually change what video content is contained in a second's time, it just plays the frames faster and duplicates certain frames to make up for the extra fps. How do I get it to play faster so that MORE FOOTAGE (or less) is contained in a second's time? IS that the right way or what?
Changing the FPS of a composition does not change the length of the timeline, it only changes the number of frames. If you have a video that's 10 seconds at 30 fps and you drop it into a comp that's 60 fps, the video will still be 10 seconds. Each frame will simply play twice.
If you want to slow down the footage you'll have to change the time of the footage. There's lots of reference in the help files.