There isn't typically a change key operation for dictionary/hash map type data structures as they would essentially just remove and add the item again. So just remove and add the item back.
timedEvQue.Add(3, "First");
timedEvQue.Add(7, "Second");
timedEvQue.Add(9, "Third");
int decAmnt = (int)timedEvQue.Keys[0];
timedEvQue.RemoveAt(0);
for (int i = 0; i < timedEvQue.Count; ++i)
{
int oldKey = timedEvQue.Keys[i];
string val = timedEvQue[oldKey];
int newKey = oldKey - decAmnt;
timedEvQue.Remove(oldKey);
timedEvQue.Add(newKey, val);
}
timedEvQue.Add(5, "Forth");