launch my installed application from chrome browser
For what its worth, see here - http://src.chromium.org/viewvc/chrome/trunk/src/chrome/common/extensions/docs/examples/api/nativeMessaging/
the README indicates that Native Messaging can now be added even by non-Admins.
But it appears Native Messaging will only work for Extensions: "Extensions can exchange messages with native applications(...)" and I dont imagine you can expect all of your users to do that.
To open it if it's installed you just need to register your application (at the OS level, so the details will vary by OS; you don't say what OS you are targeting) as a handler for some specific scheme, then have your page open that scheme. That's the same flow that causes mailto: links to open a user's mail client, for instance.
If you have a chrome app, you can use inline install: https://developer.chrome.com/webstore/inline_installation