Karthik
Probably the most logical method is to use USB-CDC host and device so that the application sees the connection as a VCOM port - effectively as if it were a UART (COM port) connection.
This is how it is done in the uTasker project - if I find time later I'll post you a video of it operating with the FRDM-K66F.
It is also possible to use composite CDC to have up to 6 such connections between the two devices. This can be interesting if communication is divided into "pipes" - eg. a data channel and some control channels, or such channels between different software modules at both ends. The CDC interfaces make each pipe act like a unique VCOM connection between two ends which means that each has a virtual direct communication path without any need for additional multiplexing, parsing etc. to recognise/route which are the source and destination of each transfer.
You didn't mention whether you will be using USB0 or USB1 in the K66 since they are different controllers and need different software solutions.
I don't know about what SDK2.0 can and cannot do but this is the technique that is most logical (one IN and one OUT bulk for each virtual connection, whereby IN/OUT can also share a single endpoint to increase the capabilities of the controllers).
Regards
Mark
http://www.utasker.com/kinetis.html
