While you can create a 2-port LAG with LACP on the upstream switch you need to ask yourself if doing so is necessary to support your deployment. This would come at the added expense of an extra Ethernet cable pull plus an extra port on the switch being used.
A LAG will increase available bandwidth from the AP to the network. While it is possible to over-subscribe a single 1GbE link I think doing so would be more of a corner case than typical. Now, when Wave 2 of .11ac hits that may be a different story. The other benefit of a LAG is redundancy.
No configuration is done on the IAP. You must configure a LAG on the switch and enable LACP on the LAG in "active mode". The IAP will detect LACP and automatically enable it on itself.