Tool runout and its effects is an important area of research within modelling, simulation, and control of milling forces. Tool runout causes tool cutting edges to experience uneven forces during milling. This fact also affects tool life and deteriorates workpiece surface quality. In this article a procedure, in order to diminish the effects of tool runout, is presented. The procedure is based on chip thickness modification by means of the fast correction of the tool feed rate. Dynamic feed rate modification is provided by superposing our own design of a fast feed system driven by a piezoelectric actuator to the conventional feed drive of the CNC machine tool. Previously, a model of the dynamic behaviour of the system was developed to analyze the influence of fast feed rate modification on cutting forces. The model incorporates the piezoelectric actuator response as well as the structural dynamics of the tool and the designed Fast Feed Drive System (FFDS). Simulated and experimental results presented in this paper show the effectiveness and benefits of this new tool runout correction procedure.