Belt Speed in SFM will be Dia(") x Pi x RPM /12
For your setup,
5.5" x 3.14 x 3450 / 12 = 4965 SFM
The VFD can drive the motor at whatever frequency range the designer has built into the VFD. The KBAC can go to 120 Hz.
The motor can only run safely up to the maximum speed the designer built it to run to.
Roughly half the world runs on 60 Hz mains and the rest runs on 50 Hz. The speed of a 2-pole motor on 60 Hz mains and running synchronously (no load) will be 3600 RPM (as the load increases, it wil slow down slightly until, loaded to 2 HP, your motor is running at 3450 RPM; rated speed at rated load).
Because modern manufacturing techniques maximize standardization, the same rotating assembly will be used in the 2-pole (3600 RPM), 4-pole (1800 RPM), and sometimes 6-pole (1200 RPM), variants of motor built on a given frame. It is therefore fairly safe to assume that any motor you buy will be safe to 3600 RPM (though to be absolutely certain, you'll need confirmation from the manufacturer), even if it has 4-pole windings and a 1750 RPM rating plate.
For a 4-pole motor, doubling the rated speed is therefore usually fine.
However, if you have a 2-pole motor, running at 3600 RPM on 60 Hz, doubling the speed will take it to 7200 RPM; well outside the design speed range.
It's usual to build in some sort of safety factor when designing anything. The motor manufacturer will have done this and the reality is that a 2-pole motor will run faster than 3600 RPM without self-destructing. The difficulty is that you will never know how much faster.
It's therefore best to think in terms of 3600 RPM as maximum safe speed for a motor.
Many VFDs have a relatively simple V/Hz (V/freq) relationship between Voltage and frequency. This is usually linear and is fine at frequencies above about 10 Hz. At very low frequencies, however, the voltage/frequency relationship stops being linear and the motor starts to feel "coggy", rather than running smoothly. Many drives offer slightly different V/freq curves to reduce this slightly, but I have not been able to get smooth operation below about 7 Hz on any of a number of V/Hz drives that I have tried. Sensorless Vector drives have an inbuilt system that measures the power factor and adjusts voltage on-the-fly to keep the motor running smoothly. All the SV drives I have tried have run smoothly down to 1 Hz.
The KBAC-series drives do not have SV capability, so your minimum usable speed is likely to be around 10 Hz and your maximum safe speed is 60 Hz, for a 6:1 speed range.
You should get a range of about 827-4965 SFM