Hello,
See http://zone.ni.com/devzone/devzone.nsf/webcategories/21FF10610AA893D38625685E0077AB3F?opendocument&node=DZ52492_US for examples of hardware triggered image acquisition with National Instruments frame grabbers. As long as you set up the acqusition to be based on an external trigger all you will have to worry about is the accuracy of the trigger signal coming from your serial device.
Hope this helps!
Best regards,
Yusuf C.
Applications Engineering
National Instruments