What effect does the velocity of a rotating object have on the centripetal acceleration?

The two quantities are closely related, but the cause/effect is the other way around.

-- The centripetal force is caused by something outside this discussion, not by the object.

-- The centripetal force acting on the object determines the object's centripetal acceleration.

-- The centripetal acceleration is the cause of whatever the object's velocity (speed and direction) turns out to be.

-- It's the centripetal acceleration that has the effect on the object's velocity.  

As an example, you wouldn't say that the orbiting of a TV satellite is what causes the Earth's centripetal force that acts on it.

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