Yes, I have a Playstation to usb adapter too and it will work!
Note that No$GBA does NOT support ZIP files so you have to unzip roms before you play.
Anyway, it is darn easy! This is for your sake:
Here is a short tutorial on how to link 2 gba roms in emulator and emulate GBA Link Cable:
* run No$GBA.exe
* pick a GBA image (no ZIP - unzip the rom)
* go to "Options" / "Emulation setup"
* increase the number of "Emulated Gameboys"
* in "Link Gamepaks", set "Gamepaks in all GBA"
* in "Reset/Startup Entrypoint", set "GBA BIOS (Nintendo logo)"
* put the GBA BIOS file in the emulator's folder, and rename it to "gba.rom"
* click OK, you should then see 2 GBA screens side by side
* right click on the left window, click on "Link" so that the window comes back to normal.
* then redo the right-click and click "Link" , and here we go, the 2nd gameboy boots!
* Also check that you have the right version of the GBA BIOS (there are 2 different dumps).
To define emulator keys go to Options -> Emulator Setup -> Controls
Set / define the key controles so that 2 players can easyly access all of the buttons.
ENJOY!
