doh! Poor old OP must be well confused as no one has answered his question in a way that he understands
I had the same question and thought great a thread that answers it, but to be honest it leaves a lot to be desired.
OP ignore the answers to the WRONG question "How to create a short cut for STREAMING" as they won't give you an answer you can copy and paste although they do explain the principles involved. Instead go back to VLC and in the "Open Capture Device" check the "Show more options" dialog, then set up the capture device in the "Video device name" and "Audi device name" pull downs.
In my setup below the "Show more options" checked box I had....
MRL
dshow://
Edit Options
:dshow-vdev=Dazzle DCV90 Video Device :dshow-adev=Dazzle DCV90 Audio Device
So I created a shortcut to "C:\Program Files\VideoLAN\VLC\vlc.exe" dshow:// :dshow-vdev=Dazzle DCV90 Video Device :dshow-adev=Dazzle DCV90 Audio Device
for me this failed with an unkown device Dassle error
So I modified Short cut with "" around the Device name thus...
"C:\Program Files\VideoLAN\VLC\vlc.exe" dshow:// :dshow-vdev="Dazzle DCV90 Video Device" :dshow-adev="Dazzle DCV90 Audio Device"
which worked fine - hope that answers the OP's question, obviously use the name of your Video and Audio devices as they won't be the same as mine.
As in "C:\Program Files\VideoLAN\VLC\vlc.exe" dshow:// :dshow-vdev="Your video device name here" :dshow-adev="Your Audio Device name here"