Michael Hutchinson blogs about how to use the recently open sourced ASP.NET MVC framework with MonoDevelop. Go from installing MonoDevelop 2.0 to your first ASP.NET MVC application 3 minutes:

There are a few very simple steps:
- Go to Tools/Add-in Manager.
- Click "Install Add-ins".
- In ASP.NET select "ASP.NET MVC".
- Install.
- Select File/New Solution
- Select ASP.NET MVC project.
- Hit F5 (run) to run your first app:
This will give you basic templates and dialog boxes for solutions, views, controllers and master pages. The code uses Michael's recentimplementation of the T4 engine.
Check Michael's Blog for a complete step-by-step setup.
The Add-in bundles Microsoft's recently open sourced ASP.NET MVC engineto run on top of Mono 2.4.
Kudos to Michael that created this add-in in his copious spare time. And kudos to the MonoDevelop team that created such a pleasant platform to extend.