I would like to know what type of microcontroller should I buy for this control loop task.
Scenario:
I have a digital signal coming from the following equipment:
$\boxed{\text{Ultrasonic}\\\text{transducer}} \longrightarrow\boxed{\text{ADC}}\longrightarrow\boxed{\text{DSP Board}\\\text{(some high and low pass filter)}}\longrightarrow\boxed{\text{USB 2.0}\\\text{(40MBPS) output}}$
I want to be able to use this digital signal coming trough USB as input in my controller and calculate the TOF (time-of-flight) of the echo and react with my controller every $1\textrm{ ms}$ or less using a PID control law.
How should I deal with this digital signal output in my microcontroller, to be able to detect the echo in generate a reaction in less than $1\textrm{ ms}$?
Any suggestion of microcontroller that I could use for this task?
And how can I deal with such high speed input?