I have been thinking and planning about this and i decided to join here and discuss with you guys here and find out what you think.
I have found CMOS sensor produced by toshiba, 13 Mp which can goes up to 900 fps in bright mode and costs Sample Price 1,500 Yen ( almost 13 dollars per piece) (source for the price is : http://www.bloomberg.com/bb/newsarchive ... nEwYU.html)
Lets get to the technical details of it,
(http://toshiba.semicon-storage.com/info ... 82&lang=en)
Property Value Unit
Optical size 1/3.07 inch -
Pixel size (µm) 1.12 micrometer
Number of pixels 13M pixels
Output pixels 4208(H)×3120(V) -
Data formats RAW8
RAW10 -
Frame rate (full) 30 (normal mode: progressive) fps
Frame rate (1080p) 120 (normal mode: progressive) / 240 (bright mode: interlace) fps
Frame rate (720p) 120 (normal mode: progressive) / 240 (bright mode: interlace) fps
Frame rate (QVGA) 480 (normal mode: progressive) / 900 (bright mode: interlace) fps
Frame rate (VGA) 240 (normal mode: progressive) / 480 (bright mode: interlace) fps
Power supply voltage (analog) 2.8 +/- 0.2 V
Power supply voltage (digital) 1.2 +/- 0.1 and 1.8 +/- 0.1 V
Power supply voltage (IO) 1.7 to 3.0 V
Operational Temperature(Topr) -20 to 60 degC
Storage Temperature(Tstg) -40 to 85 degC
I/F (serial) CSI-2 4lanes
Control interface I2C
Progressive scan Progressive scan
Rest you can find over website



For the system block diagram

Now regarding Raspberry PI 2
So lets 1st discuss Raspberry PI 2 camera interface, CSI-2. It is a system for low voltage 1.2 V applications, allowing data rates of up to 800 Mbps per lane with 1 Gbps set as a practical limit. In practice, the data rate can vary a lot and depends upon the quality of the interconnections. A maximum of four physical data lanes are allowable in this specification, however two are available for the Raspberry Pi
This is a high-speed data communication bus and noise is of huge concern to the design engineer. Although this type of serial communication generates negligible crosstalk, the specification suggests using minimum clock rates for the camera module. The CSI transmission clock is source synchronous and the main processor may produce it instead to avoid noise interference on the camera module. The data transmission supports a wide range of data types such as RGB, RAW, YUV, generic, or byte based programmer defined. (Source for this and pic down is http://www.petervis.com/Raspberry_PI/Ra ... tions.html )

I think, the budget for this project if numbers are right, would be maximum 45$, saying that i would make c-mount and install my nikon lens. Would be cool and cheap 900 fps camera right?