After you install the source rpm you should get the kernel source code under /usr/src/linux if I'm right. Head to that directory and you'll find (or should, if it's working) either README file or INSTALL file or both of them. Those files (in other projects than kernel, too) describe what you are or should be doing to configure, compile and install the thing, and because the instructions may vary between kernel versions I strongly recommend you follow the advices written there to do the job. Basically it's very easy, but
make sure it's right by reading that/those files. They contain all, and more, information you need in the process, and if it seems difficult to read, then you may search for some help on the net -- but remember, advices written for older kernel compilations may not be exactly the same with newer versions (especially the make step).
Basically one runs one of these in the source directory (NOTE: if you want to spare your current configuration, read the files for information how to save it -- after these steps that configuration may be lost).
to start off by taking the older kernel configuration as a base
for a menu-driven configuration (I prefer this)
which I've never managed to run, actually, but I think the file tells you how to get a graphical configuration window if you're running X.
Now that you've started the configuration, do the changes you want and need, and make sure you've got everything in place to have a bootable kernel. Even if you think you're fine,
do not remove any older kernels before, if even then, you've tested this new compiled kernel runs fine.
The next step is, I think, running
make:
this step may vary depending on the kernel version; on older kernels it consisted of several steps, nowadays (or last time I tried) I only had to run one. Depending on your filesystem types and choices you may have to take additional steps to complete the stuff, but basically after this is done you'll have the kernel and map files under the source directory (or it's subdirs, it depends). Then you'll copy them to /boot and hope they work
Shortly said, read README and/or INSTALL, they are your friends.
