Nope, that will cool your iPod down, which will make it even slower. Try heating it( with microwave or plain old BBQ) , this will make it goes faster.
I'm not an expert on iPods and what to do to fix them but something tells me that would destroy your iPod.
These are all fine answers. However, if you need to speed it up, try submerging it in an energy drink with a high sugar content. This usually helps me get going, so I would imagine it's the same for your iPod. I suggest Monster!