I may be late, but I found a way that worked for me. The object I want to control the velocity of is a tomato that is spawned once I hit a block.
In the Tomato Event Graph I went to:
Event Tick-Branch(condition= GetVelocity-VectorLength-IntegerGreaterthanInteger)From the branch go True-setphysicslinearvelocity(target=Charactermovement-Updateprimitive)(newVelocity=GetVelocityself-ClampVectorsize)
my tomato has physics enabled.
I set the max velocity (on the clamp vector size) to 600
Hope this helps someone!
