You can setup a mouse in the console with gpm http://www.gentoo.org/doc/en/gpm.xml
xset q | grep -A 1 Pointer
To set new values, type:
xset m acceleration threshold
where acceleration defines how many times faster the cursor will move than the default speed. threshold is the velocity required for acceleration to become effective, usually measured in device units per 10ms. acceleration can be a fraction, so if you want to slow down the mouse you can use 1/2, 1/3, 1/4, ... if you want to make it faster you can use 2/1, 3/1, 4/1, ...
Threshold defines the point at which acceleration should occur in pixels per 10 ms. If threshold is zero, e.g. if you use:
xset m 3/2 0
as suggested in the man page, then acceleration is treated as "the exponent of a more natural and continuous formula."