If the credit you have signed up for is for an MQP, then it might be applied to the new project, if it is appropriate. This will be decided by the new advisor. Until we get an answer on this, no one should count on doing it. This is up to the advisor. This format appears to be well adapted to building a portfolio showing examples of the work you have done and how you have contributed to the project.
Students can always propose any project they like.
Participation in the CI projects is voluntary. With the benefit of technical project experience before designing a project in the CI format, student project designs will be realistic, taking knowledgeable advantage of the specialized lab facilities. As students gain experience working with industrial sponsors in the area of a professor's expertise they will take a greater role in project design. The projects can have more significant goals as they build on the previous years' experience and professor's expertise. Ask any professor that you would like to work with if they are interested in advising CI projects, and ask them if they would like to be added to the list of participating professors and labs above.