bike speedo's usually have a magnet that attaches to the wheel & a sensor that you attach to the forks. You could mount the sensor on a fixed position & the magnet on part of the tube that turns, some of them have a wireless sensor.
You can set the wheel size in the speedo to make it match up to the correct wind speed, you will probably need another anemometer to get it right.
Im not sure how to connect the direction sensor, it doesnt look like it would be friendly to birds flying down wind...
You could always buy one from jaycar...
I brought a Jaycar anemometer to learn wind speed two months ago. I figured it would be cheaper to buy one ($1000 plus 1-4 months R&D I estimate). The Jaycar model works intermitently. I took my first unit back and had it replaced. I think this model suffers fom electro-magnetic interference (EMI). Worked fine in my building at work (Faraday cage), take it out side.. it plays up. Works fine at my home (in the back waters of Adelaide - very little RF out here). Take it to the beach- intermittent. Ended up getting my money back. Oh well, can't expect too much from an instrument worth only $100.
The jaycar ones are to dear like over 100 bucks this one you make for like 30 bucks
siliconchip wont let me read the full info on it unless i pay for it 
do you have a full copy? son Rip in gale 
Way to go.. an analogue display so one can watch the peak gusts.
Got a Dick Smith "Thermor' unit but it averages over 5 minutes with a digital display.
The local yot club have one of these, I note that one of the anemometer cups has broken off recently.
