OK, first, you can't use scripts in 2k3, so I'm moving this.
Secondly... I've tried this before, and I've never quite gotten it to work, but I know you have to use Common Events, set to parallel process. I've gotten it to the point where either you just start out moving fast and you push shift to slow down and you can't get fast again, or the other way around, but I can't get it to toggle.
It's actually not that complicated though. If I sat down and worked on it I could get it, but I haven't worked on my game in a while, just like most people. lol