Use the Principle of Data Flow to set the Loop Frequency. I can only think of two cases when Loop Frequency needs to be "set" -- one is when one is simulating the behavior of some piece of hardware that "does something at a set frequency", and the other is when you are using hardware that "does something at a set frequency".
The second case is trivial -- simply put the code concerning this hardware inside the loop, and put nothing else that is "time-consuming" (like file I/O, massive computations such as FFTs, filtering, etc., or User Interface stuff, including updating Graphs and Charts) inside the loop.
The first case is much harder, and much less important (It's a Simulation, Dummy!). For frequencies < 1 kHz, use Wait (ms) (or Wait until Next ms Multiple) to get 1 kHz, 500 Hz, 333.33 Hz, 250 Hz, etc. For faster frequencies, you may need to "bunch" the timing -- to get 10 kHz, run a For Loop with 10 iterations inside a While Loop with a 1 ms wait (so you'll get 10 repetitions as fast as LabVIEW can run them every millisecond, for an average of 10 kHz).
If sub-millisecond timing is really important, get a DAQmx device that you can use as a "hardware timer". So you might set up a DAQmx task acquiring 10 points at 100 kHz (sampling continuously), then put the DAQmx Read inside your While loop (which will "clock" it at 100/10 = 10 kHz), throw away the data, and do whatever you need to in the loop (you should have >95% of the loop time available to you, say 95 microseconds).
Bob Schor