Many years ago I was working on a publication that allowed users to test their knowledge of grammar. One specific aspect of this was to test their ability to recognise the different parts of speech which I had set at 9.
This meant that there were 9 different coloured pencils with each colour related to a specific part of speech. The user needed to pick up a pencil, drag it to the target word and click the pencil. If the correct word was chosen, the word displayed a hotspot the same colour as the pencil.
This technique probably does not match exactly what you want to do, but you might be able to modify this to arrive at a solution that suits you.
In particular note that no matter where you click on the pencil, the cursor is centred over the pencil.
My thanks and acknowledgement for his assistance go to Steve Henson for helping me to turn my esoteric ideas into reality.
PLEASE NOTE We produced this technique many years ago. Because I'm now giving 70 a fright, my memory isn't what it once was, so there is no point in asking for help or for clarification about the comments that appear. They obviously had some meaning when I wrote them, but ...
I hope you might get something from this example.
You comment that you have issues when moving the cursor too fast. Is it possible that what you are asking requires more resources than your computer has? Could you perhaps test it on a more powerful computer just to possibly eliminate on issue?
Apologies: For some reason the attached IMP file did not make it to the forum. It is only a small file, so email me at sentosa at jeelan dot com dot au and I'll send you a copy.