I suggest you search the examples that ship with LV
Digital
Find Examples>>>Hardware Input and Output>>>Digital Input and Output>>>8255
for doing each type of I/O seperately.
When you have found two examples. Just try to run the two at the rate use need in your final app.
Post follow-ups Q's here. I am not personally familiar with that deveice so I can not speak from experience.
I would generally expect that if you sample rate is low (i.e. <10Hz) you maybe happy with the results. If you want to run faster or have the PC do something else at the same time, the timing of the signals form the DIO lines may be suspect.
So...
It depends.
Trying to help,
Ben