Hey guys Im new to AE and I'm assuming this is a relatively easy effect, but I would love some insight on how to do this. Its in the video link that I included at the times 0:38-0:40 and 2:26-2:27. Is it something that I would do in PP or AE?
You appear to be referring to time remapping.
Time remapping is relatively simple if you read through the materials that I linked to above.
... but if you're new to After Effects, I very strongly recommend that you work your way through the basic learning materials first, since After Effects is not an application that you can successfully just jump into the middle of and start using.
Okay, I figured it was just a combination of cutting at specific points and remapping the time. Just didn't know if there was an easier/quicker way.