Use a local variable (front-panel indicator) to communicate between two parallel process loops contained within the same VI, and use a local variable to stop parallel loops with one "stop" button.
Use a global variable to communicate between two parallel process loops contained within different VIs under the same target, and use a global variable to stop parallel loops with one "stop" button.
Use a functional global variable (FGV) to communicate between two parallel process loops contained within different VIs under the same target, and use a FGV to stop parallel loops with one "stop" button. The "functional" nature of the FGV means that you can create additional functionality beyond that of a basic global variable, e.g., counting and calculations that operate on the stored value.
Use a queue to send messages and data between two or more parallel process loops contained within a VI or other VIs. Queues also serve as the foundation for the "Queued State Machine" design pattern.
Use a channel wire to communicate between two (or more) parallel process loops contained within the same VI, and use a channel wire to stop parallel loops with one "stop" button. Requires LabVIEW 2016 or later version.