Hi Nandeesh,
I think there is something that will do just what you want even though it doesn't count down. If you use a counter in single pulse generation mode, then you could set the number of source cycles for delay (your countdown value), and as soon as the counter passes that number of cycles, you would get a single rising edge (and later a falling edge) on the counter output.
You can use the "Generate Single Pulse" example program included with LabVIEW (there are similar examples with our other environements). For LabVIEW, just change the pulse specs input from time specifications to raw specifications.
Hope that helps in your search Nandeesh,
John N
Applications Engineer
National Instruments