Is it possible to loopback the Input buffer to the Output buffer on the 5640R? The idea is to receive a signal, loop it back to the output buffer and transmit the signal that was received.
If not at the buffers, is there a better solution?
It is definitely possible to do that. My only concern is the fact that you titled the post "at baseband". So, the loopback would be done in the FPGA at baseband, but the input and output will have to be at IF (between 250 kHz and 80 MHz). The software ships with an example called "ni5640R Frequency Translation" which does what exactly that.