Hey Om,
Thanks for contacting National Instruments support. Your data rates are fast, but it's possible that it could be done. You are using the write to spreadsheet file, but that is a high level FIle I/O vi. I would suggest moving to a scheme where you open the file first, outside of the loop, and pass the refnum through a tunnel. Then do your writing to the file inside the loop, and then close the file when the loop is finished. This is the basic structure of our streaming systems. If that still isn't fast enough you can employ a queue to pass the data from the data loop to a second parallel loop that takes care of writing the file.
Let me know if you have further questions.
Regards,
Kenn North
Principal Product Manager - Search, Digital Analytics
http://ni.com/search