Does One OnDragOver Exit Before Another Runs?

I'm trying to keep track of what I've done to various objects as a mouse flies
over them during a drag. The user can pass over many objects, gets to see them
respond, and then finally drops on one of them (or even cancels the drag). My
code for going back to previously highlighted objects seems to work well as
long as I do not move the mouse really fast. I'm trying to figure out why.

Suppose one has multiple controls on a form and one is moving the mouse over
them rapidly. Is it possible for an OnDragOver to be called for control B
before previously called the OnDragOver for control A to have exited?