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Whether or not you can speed it up, as well as how you speed it up if you can, depends on your design, . If it is a purely linear (frame by frame) presentation, then see if the posting linked below helps you get a start on it. There are limits to the frameRate value so you should look it up in the help documentation.
Your code would have to monitor for any change of input to that textfield and adjust the frameRate accordingly.
You might want to use a Slider component instead of an input textfield though. It allows you to set the min and max without having to explain to anyone what values they would be allowed to enter, and avoid allowing nonsense to be entered.
would you have any code showing how to use the slider component to see when its been changed, how to change it and how to set it up?
You should be able to find a tutorial if you search Google using "AS3 Slider tutorial"... In general, a Google search that includes "AS3 your topic tutorial" will usually turn up something useful.