... Say you had a spotting scope, and could devise a method to aim the scope at one of your objects, and then you were able to activate a servo-mechanism that would keep the scope trained on the object as it moved along at an unknown velocity.
The angular motion of the spotting scope as it rotated and followed the target object would be directly related to the velocity of the object.:
This is possible due to the following:
S=RΘ
where S= the length of the arc that the target travels .... which is approximately a straight line path ... at any reasonable radius.
R= the radius length from the observing scope to the target
Θ= the angle, from a reference, of the target
The time derivative of the previous equation yields:
V=Rω
where V= the tangential velocity .... what you require
R is constant, same as above
ω= the rotational, angular velocity with respect to the observing point
The only possible objection to this concept is that the object will be traveling in a straight line, rather than following the arc of a circle.
However, as the radius of the distance from the observation point to the target increases to a large enough value, the arc of the circle will approximate a straight line, for all practical purposes.
Consequently, the problem at hand is to find some method to track the angular position of the moving object, and convert it to a form that is useful for your purposes. Relative velocity is just the difference between the velocities of the two objects.
One possible line of thought to achieve the new objective might be to get a CCD and attach it to the focal point of the spotting scope. Software manipulation of the target image within the scope would have to be converted into a signal that rotated the scope as the target moved along.