Under the influence it's possible for your perception of time to be distorted a number of ways. I used to frequently get a sense that I was watching events take place a few seconds after they had really happened, particularly when it came to my own actions. Sometimes I'd feel so far behind reality that I would get a strange sensation of "falling" into my footsteps, or perceive actions such as sitting up as being sucked upwards into the motion by some external force, as if it had happened already and I was just experiencing it with a delay.
I remember one occasion where I experienced a sort of time looping phenomenon. Not only did my thoughts cycle but reality seemed to move like a series of clips that played over. Every time I'd reach the end of a cycle in the loop something new would be added before it started over. When it did start again the "first frame" of the previous cycle was skipped. This went on for about two hours, during which time I was completely disconnected from reality.
So yeah, it's not unusual to experience wacky effects on your perception of time while tripping.