Although anything is possible with LabVIEW, as it IS a programming language, I suggest that you may want to find some shareware or even a trial version of software that allows you to create an AVI.
Traditionally, these software packages can be quite expensive (over $1,000 on average!) Shareware may be available, but of course won't have the nice features. If you still want to create your own, then you will need to know how to put the images together in the file. This is probably not that difficult, but you will definitely need the AVI file protocol.
Good luck.
Oh, and if you do program your own, let us know here, we may want to buy a copy...