How can a similar effect to the one seen here be obtained?
It looks like a mix of factors to me.  Certainly re-timing (speeding up and jumping frames around) is a part of it, but mostly, I think they had a lot of wind on a green screen and then cut it over an environment where it doesn't make sense.  It's hard to tell how much the excess blinking is the wind and how much is re-timing, but some of it does appear to be retimes.  They vary the retiming of the composited content while keeping the background constant though which gives your brain less to latch on to.

As far as retiming in sync with the music, there is an easy trick to pull that off for songs.  You simply slow down a recording of the music by the desired amount and have them play along.  When sped back up, things match perfectly.