Excellent Idea! The reason why I was trying to call the raw DLL myself was because I was not sure that would be a viable option, and I knew it would also require deployment of LVRT which is actually not a big deal at all (it's like what, 20 MB?). Not only that, but I realized that lvanlys.dll itself makes so many function calls to CreateMutex and other LVRT functions itself that it would require an entire wrapper of LabVIEW to run effectively (which is just a self-defeating purpose in order to call one function).
Anyways, I went right into LabVIEW 8 and there is a "Make Executable" where I was able to compile the .vi into my custom DLL (all of which was all very intuitive). Linking to the library was no problem at all as I used implicit LIB linking and there were no structures that had not already been defined in extcode.h, platdefines.h, and the other CVI/CIN header files.
Here is a screenshot of my success: