You can't do it - except in the trivial case you are giving already which is easy:
1) Is value equal to 0?
2) if yes, output value is 01000010
3) if no, output value is 01000100
Two bits can only hold 4 values:
So the other 252 possible combinations you can get into 8 bits have nowhere to be stored. Compression algorithms work by finding patterns in numbers (in essence) and require an amount of overhead to store information about the compression method - with only eight bits of data there is insufficient information for a pattern to be determined - and with overhead you would end up with a longer output than input!