This is beyond the scope of one post, but check out DaOnes kernel compile guide for newbies in the slackware forum
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http://www.linuxquestions.org/questi...threadid=49035
Also might want to check out his guide with some more specifics on 2.6.x
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http://www.linuxquestions.org/questi...hreadid=127095
That should get you started. Just remember: don't compile your root file system as a module! It must be in the kernel! This is one of the most common causes of kernel panics after a newbie kernel compile.
If the links don't work both threads are a sticky in the slackware forum.