You are right that native English speakers sometimes pronounce 'a cup of tea' as əˈcʌpə tiː/.
It is very common. They can also pronounce it more formally as əˈcʌp əv tiː/. This is one of the things that makes "native" English difficult for many speakers of English as a second language. Many of my Russian students can understand non-native speakers when they speak English but are unable to understand native speakers for this very reason. It is very good that you are aware of this phenomenon, because it will help you to understand spoken English. If you can learn to imitate it, you will sound more like a native speaker!
These simpler pronunciations are called reduced forms. Native speakers tend to stress nouns, verbs, adverbs, and adjectives and to destress function words, like articles, pronouns, and prepositions, etc. It is part of the natural rhythm of the English language.
When we pronounce it more formally it sounds like a CUP of TEA....stressing the nouns
When we pronounce it less formally it sounds like a cup' tea.....destressing the function word
In the cases you mention the pronunciation depends on whether the consonant that comes before the o in "of" is a voiced consonant or a nonvoiced consonant. When the preceding consonant is voiced it sounds like əv . When the consonant is nonvoiced,you do not pronounce the f in "of".
Why? Because it is easier to pronounce two voiced sounds together.
Nonvoiced.
əˈpi sə keik/ .....s is nonvoiced in "piece of cake"
əˈcʌpə ti ..... p is nonvoiced in a cup of tea
əˈcʌpəl ə things ... l is nonvoiced in a "couple of things"
Voiced
(the f in "of" is pronounced like the voiced "v".)
dʌzənz əv .....the s is voiced as a z sound in "dozens of"
han g əv ....the g is voiced in "hang of"