I looked and someone had a similar problem, but they got quite a bit further in the building process. Here is my issue
make*** /lib/modules/220.127.116.11-117.fc10.x86_64/build No such file or directory
rt61.ko failed to build!
Now i went this location and there is a build but it is red with black background which means that it is a "symlink ot a nonexistent file, or non-stat'able file". I googled this issue but came up with almost nothing. The only pages that seem useful were in polish. Some help on this issue would be greatly appreciated.
Well there are quite a few references to this problem on this forum, so I am going to summarize it install your kernel sources.
as you seem to be using a fedora kernel, the kernel-devel package would do - this sets up the build symlinks etc required for compiling your own module