The API to control network emulation was added to ChromeDriver. And should be available for quite a while now. According to comments on the linked issue, you should use the version at least 2.26 because of some bugfix.
According to Selenium changelog bindings are available for these languages:
Python as of version 3.5.0 (commit)
Ruby as of version 3.11.0 (commit)
If you need these binding in other languages you should probably open contribute implementation similar to one of the above.
Example usage from Python is below:
latency=5, # additional latency (ms)
download_throughput=500 * 1024, # maximal throughput
upload_throughput=500 * 1024) # maximal throughput