The great thing about LabVIEW code is that often it is very easy to recreate the VI from an image of the block diagram. So, I'd recommend that you take this approach (that's exactly what I would do in this case).
Also, since LIFA is deprecated and no longer supported, I'd recommend that you use it's replacement, LINX. The nice thing is that the VI will look very nearly the same. A couple major differences:
- You won't need to initialize the pin modes for the digital outputs (the for loop)
- The digital write (N channels) will require the pin numbers for each of the pins you are using (an array of U8's).
If you have any issues implementing this, feel free to post on the LINX forums (attach your VI) and we'll help you out.
If you are wondering about the electrical setup, you can simply search online for how to connect LEDs to an Arduino.