Prepare a file sansiwona.sty
\ProvidesPackage{sansiwona}
\DeclareOption{regular}{\renewcommand{\sfdefault}{iwona}}
\DeclareOption{light}{\renewcommand{\sfdefault}{iwonal}}
\DeclareOption{condensed}{\edef\sfdefault{\sfdefault c}}
%\DeclareOption{mathnoalias}{\let\define@iwona@mathversions\relax}
\DeclareOption{math}{%
\let\define@iwona@mathversions a%
\PassOptionsToPackage{mathnoalias}{iwona}%
}
\ExecuteOptions{regular}
\ProcessOptions
\let\sansiwona@saved@rmdefault\rmdefault
\let\sansiwona@saved@bfdefault\bfdefault
\RequirePackage[mathnoalias]{iwona}
\let\rmdefault\sansiwona@saved@rmdefault
\let\bfdefault\sansiwona@saved@bfdefault
\mathversion{normal}
\endinput
Then the document
\documentclass{article}
\usepackage[math]{sansiwona}
\begin{document}
What font will this be?
{\sffamily And this? \bfseries And this?}
$a+b=\sum$
\mathversion{iwona}
$a+b=\sum$
\end{document}
will do the right thing, because the “wrong” settings made by iwona.sty
are reverted.
Put sansiwona.sty
where TeX will find it, see Adding style files

The math
option is needed only if you need Iwona Math.
Iwona
and it's sans serif\textsf{}
command but it goes as default font\renewcommand{\rmdefault}{\sfdefault}
help then?\temp = \rmdefault; \usepackage{iwona}; \sfdefault = \rmdefault; \rmdefault=\temp;
\let
as in\let\temp=\rmdefault
and that's exactly what you should do