You'll also need mzscheme in your path; just download it from http://www.plt-scheme.org (v372 will work), and make sure you add the directory containing the binary to your PATH variable (`export PATH="$PATH:/path/to/the/directory/containing/the/mzscheme/binary"`).
I think that's everything, but I already had a highly customized setup. Feel free to ask any other further questions, but error messages/problems encountered would be helpful in those cases.
If you have macports (and you should!) you can do this:
$ macports install mzscheme
That'll get mzscheme running. Then I downloaded the latest anarki from github (http://github.com/nex3/arc/tarball/master) I untarred it and renamed it to "arc". Then I went back to my shell.
It seems my problem is related to PATH, i compiled and installed macports but cannot add to PATH, same with mzscheme, keep getting command not found, even when i do /path/to/mzscheme/mzscheme. I add the PATH to my usr/bin/.bash_profile but still got the same error.