MD88 FLT CREW EXPERIENCES WINDSHEAR ALERT AT V1 ALONG WITH CAWS ALERTS. WINDSHEAR ESCAPE MANEUVER IS FLOWN BUT CAWS CANNOT BE SILENCED. RETURN TO LAND.

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ON DEP ROLL AT V1 WE HAD A 'WINDSHEAR' WARNING (INCREASING TAILWIND). WE ELECTED TO CONTINUE THE TKOF; THE CAPT PUSHED THE THROTTLES UP; AND WE PERFORMED THE WINDSHEAR RECOVERY. WE ACCELERATED PAST VR AND ROTATED AT V2. WE RPTED A PIREP OF INCREASING TAILWIND WINDSHEAR WARNING TO THE TWR. AFTER THE WINDSHEAR WARNING WE EXPERIENCED CONTINUOUS; MULTIPLE CAWS WARNINGS. CAWS IS THE CENTRAL AURAL WARNING SYS ON THE MD88. WE THEN NOTICED A CAWS FAIL MESSAGE ON THE OAP (OVERHEAD ANNUNCIATOR PANEL). THE 'WINDSHEAR' WARNING IS SUPPOSED TO BE INHIBITED ON TKOF ROLL. EVERY CAWS WARNING WAS ANNUNCIATING CONTINUOUSLY AS WE CLBED OUT. WHILE COORDINATING WITH MAINT ON DISENGAGING THE CAWS (AND POTENTIAL ENG OVER-BOOST DURING WINDSHEAR WARNING); WE ELECTED TO RETURN TO LAND. WE COORDINATED 'EXPEDITED HANDLING' AND A RETURN ON THE ARR TO LAND VISUALLY. WE LEFT BOTH ENGS RUNNING AT THE GATE SO THEY COULD INSPECT THEM. WE LANDED WITHOUT INCIDENT AND TAXIED BACK TO GATE. MAINT PERSONNEL CONFIRMED THE ENG OVER-BOOST AND A COMPLETE CAWS FAILURE. COM WAS VERY DIFFICULT DURING THE FLT DUE TO THE EXTREMELY LOUD CAWS FAILURE. IT WAS HARD TO TALK TO ATC; THE REST OF THE CREW; AND OUR MAINT. BECAUSE THE CAWS AURAL ANNUNCIATIONS WERE RANDOM AND REPETITIVE; IT WAS VERY DISTRACTING.