set Maximum pre-rendered frames from my application


NVidia Contol Panel has “maximum pre-rendered frames” setting with option “use the 3D application setting”, but what does it means? How can I set it from my application at runtime?
I want it to process captured video with minimal latency.
This is crucial for me, because I am capturing 25 fps video, processing it and output in 25 fps. Default maximum pre-rendered frames is 2, so that makse 5 frames latancy for my capture-to-display pipeline:
1st frame: frame is receiving over video cable on capture card
2nd frame: I received the frame, uploaded it to GPU and drew it on back buffer, then I call swap buffers.
3rd and 4th frames: renderd frame waits in pre-rendered frames buffers in GPU memory (I don’t want that)
5th frame: it is outputting through video output of video card.
Resulting latancy is 200 ms, and I want to remove those 2 or at least one extra frames waiting, to achieve 120 or 160 ms.
Is there a way to set this parameter from my application, and if yes, could someone point me in the right direction for some SDK, API, documentation, examples, etc.

Thank you.