Unhooking the TPS will set a check engine light. I don't think it will cause the car to rev out of control, but I'm not sure how it will react.
To test it, you can measure the voltage on the TPS sensor or via a scanner with the key on, but the motor off. Throttle closed, the voltage should be around .5V and at wide open throttle it should go up to something greater than 3.5V, preferably closer to 4V or so.
When opening and closing the throttle slowly, the voltage should raise and lower smoothly without suddenly jumping around which could cause erratic part throttle operation. If the voltage does not raise much above 3.5V, the car may not go into WOT (open loop mode) which could put it down on power as the car will try to control A/F using the O2 sensors which it shouldn't in open loop mode.
If you measure at the sensor rather than using a scanner, you have to allow for .1 to .2V cable harness drop by the time it gets to the PCM.