Hey ktof,
While the iRig Keys I/O does not natively offer "Chord Assignment" to the pads, you can set these pads to different MIDI messages, like different MIDI CC or MIDI Note On/Off messages. See
Section 5 Edit Mode for assistance editing these controls. Starting on
Page 39, Section 5.3.4 will contain specific information on editing pads.
Download your user manual from
My Products or view your manual
here.
For changing MIDI messages into chords, there are some great thrid party solutions. While not an official solution, you can check out
Chordz from code4n42 as an example. This is an older one, but this sounds like it would get you working in the way you want.