Hi,
You won't be able to run .NET Framework v1.1 applications in any recent IIS versions, not in versions greater than 7.5 ... officially anyway.
Framework v1.1 is not supported in versions of windows after windows7/server 2008.
The official recommendation is to upgrade your application to .NET Framework 2, that can then be run under v3.5:
Running .NET Framework 1.1 Apps on Windows 8, Windows 8.1 or Windows 10[
^]
I'm not sure why you would be wanting to create an application in Framework 1.1?
... hope it helps.