First, if you don't have Sublime Package Control get it, it's awesome. (http://wbond.net/sublime_packages/package_control).
After that just ctrl+shift+p and pick "Package Control: Install Package" (I just type "Install" and hit enter, letting the autocomplete do it's magic.) Then select "Sublime TFS"
Once installed, check the settings (Preferences->Package Settings->Sublime TFS->Settings - Default (and/or Settings - User) and make sure they point to the proper TF.exe folder
That's it, the plugin is a little feature lacking, but it gets the job done for basic operations like checking in/out, adding, deleting, undoing, etc.