That sensor is only for non-DSLR cameras (it's a small 1/1.8" type sensor), and it achieves a frame rate that fast because it's using an electronic shutter built into the sensor (no mirror or mechanical parts to worry about). Of course, light will have to be good enough to use it at frame rates that fast (otherwise, you'd have underexposed images). Just because it's capable of frame rates that fast, doesn't mean you'll be able to use frame rates that fast in all lighting. ;-)
As for when, you'll have to wait on announcements from the manufacturers. When they want users to know, they'll issue press releases about new models.
Sony is already shipping the sensor (at least in limited quantities), and I have no doubt that manufacturers are developing cameras around it (as you can tell from the announcement that Casio made about their new prototype).