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No you can't unlock Jet.
To unlock events you have to place in the circuits (1st,2nd,3rd) and you will unlock the next circuit and an event.
If you mean the ds version: Beat circuit mode, all of the events and levels will unlock as you progress into the game If you mean the Wii version: I have no idea!!
You have to unlock the Moonlight circuit to unlock the dream race, and to unlock the moonlight circuit you have to come first in the Mercury, Venus, Jupiter, and Saturn Circuits. It's not to hard I managed to do it and I'm pretty lousy at swimming.
Mario and Sonic at the Olympic games in London. Probably. I am not so sure just yet.