The ENVI documentation states that the Apply FLAASH Settings button "...creates a radiance image suitable for FLAASH with the following properties: BIL interleave, floating-point data type, and a scale factor of 0.1. This scales the data in units of µW/(cm2 * sr * nm), which FLAASH expects for input.
Clicking this button will save you from having to separately convert the interleave type to BIL and convert the data type to floating-point. However, if you want to use the scale factors (40, 80) supplied by the data vendor, you will need to create an ASCII file of those scale factors. The help states:
"If the scale factor is not a constant for all bands, you must supply an ASCII file that specifies the scale factor for each band. In the Radiance Scale Factors dialog, select Read array of scale factors (1 per band) from ASCII file, and select an ASCII file....Be sure to specify the correct column for the scale factor....You can also re-define the scale factors later using the FLAASH Advanced Settings dialog."
The help topic for FLAASH is at
http://www.exelisvis.com/docs/FLAASH.html#Set.