Jerry Lee Lewis listened to, and immitated a lot of blues and barrel-house style piano players from his time. I was always amazed at the repeated chords in that song. Also, if you listen to the piano player - can't remember his name - in some of the Chuck Berry songs, you hear the same technique - very fast repeated chords adding an upper register texture.
You don't find this technique a lot in classical music, but it does exist - the coda of Chopin's f major Ballade, Erlkonig by Schubert, and even the tremelo of Ondine by Ravel.
There are various ways to solve this technical problem. You always have to stay relaxed, use a combination of shoulder, upper arm, forearm, wrist, and find the balance between them where you can achieve speed. Also, I think Jerry Lee keeps the keys depressed when he plays this, so there is not as much up and down motion. At least that's what it sounds like.
Hope that helps a little.
Topic: to stupid, to bad or is the piece just to hard?