How do you make a 125cc bike faster?

"would it go faster if i put a bigger cog on the back wheel"

no, you need a smaller "cog" or sprocket on the back wheel to up the speed, but your still only looking at a 3% gain in top end speed. try a larger sprocket on the front eg. if you have a 15 tooth sprocket change it for a 16 or 17 tooth. this should give you up to about 10 to 15% gain at most.

if you want a bit more then you'll need to look in to rejetting the carb, free flow airfilter, change the cdi for a race or unrestricted cdi, and a free flowing exhaust to help it all on it's way. but remember that even after all these mods your still only looking at a small top end gain, after all it's still a 125cc. if your looking to bring the speed up even more than you need to find a good big bore kit, but that's a lot of work and not one i'd recomened a novice to install.