I have a bad head cold  but I feel like I'm breathing heavy and my heart feels like its beating faster then normal is this ok?

NO. You might have a bit of reactive airway disease with the viral infection. If you are feeling as if your heart is beating faster than normal.. Check your pulse.. >100 beats/min is tachycardia and is not normal... I would have that checked.
Viral infection. A bad head cold is a viral infection that involves the upper respiratory tract (nose and sinuses) and the lower respiratory tract (bronchi and lungs). This diffuse infectious disease requires your immune system to work harder than in the normal state and thus there may be an increased heart rate as a result of both the infection and the immune system working to fight the viral infection.