F2B is backed up 8.5 years (11 years for Philippines, 20 years for Mexico) Your father filing of a family petition for you does not give you any immigration benefits, no work authorization, no permission to remain in the U.S., nothing.
You could travel while you are on a valid F-1, but I would advise against it because, once your father files the petition for you, it will act as evidence of your intent to immigrate into the U.S., and USCIS holds that such intent is incompatible with a non-immigrant visa (including F-1).
So you might be denied admission when trying to re-enter after a trip abroad. Filing of a family petition will also hurt your chances of getting any other non-immigrant visa, such as H-1B, for the same reason ("demonstrated immigrant intent")
I suggest that you should get an immigration attorney to review your father's case: depending on the details, you might be eligible to receive a green card as a beneficiary of your father's adjustment application.
Answered on Aug 14th, 2012 at 2:07 PM