Hi BPL,
In your block diagram, you are using the SI Config VI. This VI has two inputs: Sound format & Buffer size. The Sound format cluster has the following 3 elements: Sound Quality, Rate, and bits per sample. Reducing any of these will reduce the size of data coming in. Specifically, lowering the rate will acquire less samples per second and will hopefully allow you to read out the data fast enough to where the buffer does not overflow.
Hopefully this helps,
Travis H.
LabVIEW R&D
National Instruments