Look at this paper by Emmanuel Candés. It describes exactly how to sample some signal at a low frequency (11MHz) when it's at a higher frequency (40MHz).
A compressed sensing technique is called "iterative hard thresholding." It's represented by $x^{n+1} = H_K(x^n + FFT(y-FFT^{-1}(x^n)) $ where $H_K$ is a nonlinear operator that takes the largest $k$ terms, $y$ your measurements in the time domain, and $x$ your reconstruction in the Fourier domain.
I made a gist available. I was using the discrete wavelet transform, but you should easily be able to replace that with the FFT. This gist reads an image then reconstructs it, and does the associated setup.
This may not be what you're looking for: you may not be able to do the computation on the fly like this. My bet is that you could do these computations when the signal is returned to the "brain," but that will only work if it's not real-time (although it may work anyways).