First, get the latest source from http://freetype.sourceforge.net/download.html#stable and extract it in a convenient place, then configure, build and install it:

$ LDFLAGS=-L/c/met.no/lib CPPFLAGS=-I/c/met.no/include ./configure --prefix=/c/met.no --disable-shared
$ make all install
$ cp README /c/met.no/copyright/freetype2.txt
$ cat docs/LICENSE.TXT >>/c/met.no/copyright/freetype2.txt
$ cat docs/FTL.TXT >>/c/met.no/copyright/freetype2.txt
$ cat docs/GPL.TXT >>/c/met.no/copyright/freetype2.txt

Note that configure will report that you are running on Unix, but that's OK. You're not running on Unix, but you're running on MinGW, which is a POSIXish environment, which is what configure really means by “Unix”.