Create a new project. (File --> New Project)
Import the song. (File --> Import Media Items or Click Imported media under Edit and under Tasks)
Drag it to audio in timeline.
Put something in video. Just a short one, like a credit or title.
To create a title, click Tools --> Titles and credits or click Titles and Credits under Edit under Tasks
Click File --> Publish Movie --> This Computer --> Next..... Put the filename then Next --> It it's finished, click Finish
If the video had been published, import it.
Drag it to video in timeline.
Go to Effects, click the arrow at the top
Drag the "Speed up Double" to the song.
Play it.
If you want faster than that, drag the "speed up double" again to the song.
If it's now okay, drag it to audio.
Publish it if you need to put it another project. (Click File --> Publish Movie --> This Computer)
Import it again and put it where you want.
(Contact me if your have more questions.) =)