This page explains the kernel recompilation process. If you'd like information on how to configure the MeeGo kernel, see this page: http://wiki.meego.com/MeeGo_kernel_documentation_for_contributors
Note at the bottom of the page there is a link to more information on configuring the Linux kernel.
The first thing you'll need to do to recompile the MeeGo kernel is to download and unpack the MeeGo kernel package. To get that package you can download it with wget like this;
You can of course get your kernel directly from upstream at kernel.org for example or clone it from MeeGo's git repos;
git clone git://gitorious.org/meego-os-base/kernel-source.git
If you take the packaged MeeGo kernel, then you'll need to unpack this rpm. You can do that this way;
rpm2cpio kernel-22.214.171.124-10.3.src.rpm | cpio -id
and spot the linux-2.6.35.tar.bz2 file and patch-126.96.36.199.bz2