Yes, there is a setting in flash where you can change the upper limit of how many times a body can rotate (it will be in Box2D/Common/b2Settings.as).
If you don't want to change the upper limit (maybe because you actually want it to go that fast), you can check the angular velocity of the rotating bodies (the wheels) to see if it goes faster than a certain threshold speed (ideally, the speed that makes it look like it's going really really fast before the angular velocity makes it look like the wheels are going slow). If it's slower, then do the normal angle thing. If it's faster, do some other trick to make it more visually appealing. You can get a body's angular velocity with "body.GetAngularVelocity()" (which returns a Number value). You can do something like this (pseudocode):
Code:
if (angularVelocity < visualThreshold) {
sprite.rotation = (body.GetAngle() * 180/Math.PI) % 360;
}
else {
sprite.rotation += (visualThreshold * 180/Math.PI) % 360;
}
Hope this helps.