Can someone explain to me what i need to consider with regards to switching speed and duty cycle?
Usually schottky diodes are used for low voltage applications like yours. In addition to having low voltage drop they are very fast so switching speed is not an issue. Sometimes if the FET you are using in your PWM is very fast you may need to worry a little about reverse recovery time. Again it is usually not a concern with schottky diodes.
The reason I ask about the motor was for duty cycle power rating on your diode. Since it is unknown we must assume that the spec is 8 amps
maximum. This would mean that the motor resistance is 1.5 ohms and it would draw 8 amps at 12 volts if it weren't allowed to turn and maximum voltage was applied. If this is the case the average diode current will be 1/2 of the motor current. This is because for 50% of the time the current is thru the FET and then the other 50% thru the diode.