If you don't need realtime, there are much better ways to do it than LabVIEW. There are probably dozens of photo stitch programs that will do it seamlessly.
However, you say you need to do it on a live image. A few questions:
Will the images always be at the same distance from the cameras? Are the cameras fixed in position relative to each other and the object of interest?
If so, you could determine the adjustment of the images beforehand using some sort of template. This could be manually or you could use corrolation to do it automatically. During live acquisition, you would just need to do a quick rotate (if necessary), trim, and append.
Bruce
Bruce Ammons
Ammons Engineering