Mark Rippetoe is convinced that you can roll out an IT band injury in a few very painful sessions. I'm not sure that ITBS follows the typical trigger point pattern, though.
I would figure out how to do a higher-intensity workout that doesn't involve the knee. Pushups, pullups, back raises, leg swings, shovel glove, jump rope, whatever, just design a circuit and go through it a few times.
When you start back running, start more slowly. I've been told that it takes about 6 months to transition from cushioned shoe to barefoot. This go-round, I'm running with more padding than last time, in some Nike Frees.