You conclusion 1/2/3 should be o.k. The purpose on a opto coupler is to isolate two systems(GND and Vcc). The MCU output is driving the diode side and the photo transistor the isolated system side. For the other direction it is just opposite. The absolute maximum ratings in the data sheet is not the operating condition. These are the electrical characteristics(e.g. IF=10mA with max. 1.5V VF. RD must be selected to meet the output drive capability of the I/O port. The normal MCU I/O ports can't drive 10mA on the high side. The possible 4N26 transistor current depends on IL and CTR.
The datasheet specifies minimal 2mA with IF=10mA. So this is not very much and you might need additional driver. Here you find application examples for interfacing the microcontroller to the outside world:
https://www.ichaus.biz/wp1_mcu_interface .
Enjoy your design work!