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For multiple inputs and multiple outputs (MIMO) networked control systems (NCSs) with limited communication channels, only some of sensors and actuators can access networks at any one time. Taken it into account, the system model is built by introducing communication matrices, which reuse the last control signals and discard the current output signals when nodes fail to access networks. Then the controllability and the observability of the control systems are analyzed, and the selection principle of its periodic communication sequences is given. Based on the periodic communication sequences, a stable linear quadratic Gaussian (LQG) optimal networked controller is designed with Kalman filtering and LQ regulator. Finally, numerical examples are given to demonstrate the feasibility and validity of the proposed method.