Sure, no problem. The 2711-K5A
5 has a DB9P style RS-232 communication port that uses DH-485 protocol.
The MicroLogix 1200 has a Mini-DIN8 RS-232 communication port that can be configured for either DF1 or DH-485 protocols.
To connect the two directly together, use the purpose-built 2711-NC21 (5 meter) cable or 2711-NC22 (15 meter) cables.
In your MicroLogix 1200 program, configure the communication port for DH-485 protocol. You will then need to change your RSLinx communication driver from DF1 to "1747-PIC/AIC+".
This topic has been covered at length on this board and is pretty clear in the PanelView user manual,
http://www.ab.com/manuals/eoi/pdf/2711-um014c-en-p.pdf . Page 12-22 illustrates using a 1761-NET-AIC for electrical isolation between the PanelView and the MicroLogix and to connect a programming terminal simultaneously, and Page 12-3 includes a cable chart that calls out the cables I listed above.
You might be tempted to use the 1761-CBL-PM02 cable that you use to connect to the MicroLogix 1200 for programming. Don't; not only does the cable require a null-modem adapter to match the PanelView (which tends to be unwieldy as a plug on the terminal) but also the Series B and C cables have pins 7/8 swapped for DF1 handshaking, which interferes with DH-485 protocol operation.
Given the option, I would load DF1 firmware into your terminal instead of DH-485 firmware, so that I didn't have to use the PIC driver (buggy under Win2K and XP). But you might want to keep things simple, here.