70duster 360 gets hotter the faster i go

Once the stat is open... Its open. Purpose of stat is to allow engine to warm up faster and slightly restrict flow.
your half right about the warming up part once it reaches temp it opens allows coolant to circulate thru the engine then closes so that the now hot coolant can stay in the radiator so it can be cooled by the fan/air. if the coolant circulated continually how would it ever get cooled off?