ok let's work backward here, remember hyperventilation is IN RESPONSE to an acidic ph, so it works to increase ph....this is probably what you mean by negative feedback--->low ph causes hyperventilation which in turn causes the ph to increase. ok now the equation co2 + h2o <==> hc03- + H+ can be seen to shift to the left when co2 dissapears due to hyperventilation. when the equation shifts to the left, you get away from H+ (on the right) hence increasing blood ph, when you have a lot of co2 in the blood, the same principle applies and the equation shifts to the right, decreasing blood ph. also remember for MCAT puproses a decrease in pO2 almost always implies an increase in pCO2, which means the blood becomes more acidic. this can be illustrated with blood vessels: a high pCO2 in the blood makes the body believe there is low oxygen in blood, so blood vessels DILATE to expand the surface area that for oxygen to get into the tissues. when CO2 is low, blood vessels constrict because the body assumes low CO2 means an adequate supply of oxygen is in the blood. this is why when we get rid of too much CO2 with hyperventilation we feel light headed and dizzy almost immediately, our blood vessels in the brain are constricting which occludes vital cerebrovascular supply of oxygen to the brain.
just remember this: hi co2, low ph and hi o2, hi ph..this is how your aortic and central chemoreceptors regulate things.