In multi-player mode in any level or match, equip the Red Gem on Sonic, Activate it and hold it, then die. While still holding the activation button, wait till you respawn. When you respawn, deactivate the gem. You will now run ten times faster than normal. Also, the time will automatically be slow.

Use the following trick to go faster in Super Speed area. Hold the Analog-stick Up when you use a Light Dash on a line of rings and keep it held. Sonic should now be running with his hands behind his back and be moving much faster than usual. The effect lasts until you release the Analog-stick or crash.