Continuity mistake: After Dark Helmet has stolen Lone Starr's ring of the Schwartz and dropped it down in the grill, Lone Starr is wearing it again after he gets into his Starship.

Spaceballs (1987)
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Directed by: Mel Brooks
Starring: Bill Pullman, John Candy, Rick Moranis, Mel Brooks, Daphne Zuniga, Joan Rivers, George Wyner
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Col. Sandurz: Lord Helmet.
Dark Helmet: WHAT?!
Col. Sandurz: You're needed on the bridge, sir.
Dark Helmet: KNOCK ON MY DOOR! KNOCK NEXT TIME!
Col. Sandurz: Yes, sir.
Dark Helmet: Did you see anything?
Col. Sandurz: No, sir. I didn't see you playing with your dolls again.
Dark Helmet: Good.
Trivia: Mel Brooks allegedly waited so long to create his spoof of Star Wars as he wanted to spoof the entire trilogy.
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Answer: Its a reference to how the stars streak around the ships in "Star Wars". "Ludicrous speed" had to have a ludicrous color. It is also referencing 2001: A Space Odyssey, where this "tartan" effect occurs when Dave is in the pod towards the end of the film.
Grumpy Scot
Those answers are quite correct and possible, but how about this: Warp and weft are the two directions of yarn in weaving (of plaids and other things). It might be a very meta joke since plaid is at much higher level than warp. On the other hand, it's Mel Brooks. On the gripping hand, he was born in Brooklyn in the mid 20's and might have been exposed to the basics and vocabulary of the tailor at a young age.
Btw, it's also a clear reference to the sentence from Star Trek "They've gone to warp."