The Collaborative International Dictionary of English v.0.48:

Whiz \Whiz\, v. i. [imp. & p. p. Whizzed; p. pr. & vb. n.
   Whizzing.] [Of imitative origin. ???. Cf. Whistle, and
   Hiss.]
   To make a humming or hissing sound, like an arrow or ball
   flying through the air; to fly or move swiftly with a sharp
   hissing or whistling sound. [Written also whizz.]
   [1913 Webster]

         It flew, and whizzing, cut the liquid way. --Dryden.
   [1913 Webster]