To build power and speed you need to keep your muscle under tension for very short periods of time. Medicine balls are great for this. To work your chest, lie on your back with your knees bent and your feet flat on the floor. Hold the ball in line with your nipples, just above your chest, and throw it upwards as fast as you can. When you catch the ball, throw it again toward the ceiling as fast as you can. Start with 30 second intervals. To be quick, you've got to train quick, says Dr Kevin-Taylor Isaacs, Personal Trainer of the Year (US, American Council on Exercise, 2002).
Obviously, this will take some training and some practice, throwing a little further/harder with time, and getting the real speed and effort. It's also worth trying with someone else throwing and catching with you.