From HP Wikia, sourced to Quidditch Through the Ages:
Sometime between her graduation and her return to Hogwarts, Rolanda was selected by the Department of Magical Games and Sports as the Hogwarts Quidditch referee, and underwent a series of complicated and rigorous tests, both written and practical.
So she was Ministry-approved as a Hogwarts teacher. This doesn't say whether she was chosen because of a stellar career as a professional Quidditch player, but the fact that she had to go through so many tests suggests that she hadn't already proved herself in the field.
Besides, look at real life. How many professional sporting stars go on to become boarding school PE teachers? It doesn't really sound very realistic, does it?
Whether she was on her House's Quidditch team at Hogwarts is also unknown, but seems likely. Which House she was in is also unknown.
As a bonus (though not really relevant), here's the only thing about Madam Hooch that I've been able to discover in any JKR interview:
I know a few people out there had been wondering if Madam Hooch had ever been in love.
JKR: (laughs) You know what? Madam Hooch really did not have any kind of romantic backstory. Well, not of my invention. We’ll have to go and trawl the fanfic for that.