In this paper, we proposed a tunable K/W-band OFDM integrated radar and communication system based on Optoelectronic Oscillator (OEO) for intelligent transportation. All-optical signal processing including amplitude asymmetric filtering and quadratic phase manipulating is applied in OEO to achieve a high-frequency and tunable self-excited oscillation, which supports the K/W-band OFDM signal generation. Its product of maximum detection range and communication capacity is cB/4Δf (m·Gbaud), where c is light speed and Δf is subcarrier spacing of OFDM. A proof-of-concept experiment is carried out in K-band with bandwidth B = 2 GHz and W-band with bandwidth B = 10 GHz. The range resolution ΔR, detection range Rmax and communication capacity C of 0.075 m, 75 m, 12.8 Gbps, and 0.015 m, 300 m, 32 Gbps are experimentally demonstrated in K/W-band respectively.