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I think it works as long as you are on the same console platform. Not 100% sure though. I will wait for someone else to confirm.
If you're transferring an already activated premium membership from one account to the other, I do not think it is possible. However, I am not sure if you can gift DLC in general using the Xbox Marketplace. I would advise buying Premium from a nearby games store, then activating the code on your account you want to play on.
EDIT - Judging from Xbox Reviews suggesting a gift button should be implemented to the Xbox Marketplace, it is not possible to gift items in general from the Xbox Marketplace.