What would you achieve by doing this, you would definitely not produced and Lighting Pied.Why wouldn't you breed the babies to the parents though? You'd be getting much better odds that way.
The long route is Pied to Axanthic and pairing the DH Axanthic Pied to each others which would yield 1 in 16 chance per egg to produce a Lighting Pied, with the rest of the animals being 66% DH, Pied 66% Het Axanthic, and Axantchic 66% Het Pied.
The smart way to do it (for better odds) is to produce some DH Females, raise them up and once they are about a year to a year and a half, buy a Pied Het Axantchic.