I'm pretty sure this will work the same way. I did it on my iPod touch but it's still through the same 'mail' application.
Go to this website: www.izymail.com (this website will supply you with an incoming and outgoing mail server) ex. incoming = in.izymail.com and outgoing = out.izymail.com
You're going to go to the website enter your hotmail address and create a password which will be your username/password for the outgoing/incoming e-mail servers.
http://v3.izymail.com/iPhoneSettings.aspx - this gives you a visual demonstration of how to do it. But instead of pop I suggest using iMap it might take a little longer but I never had the trouble with it that I did with POP.
I've heard numerous reports on different forums and user are happy. They went through all that work to make it work, so i'm going to say they're pretty trustworthy.
Not sure if this is available with the FREE Hotmail. But did you check the Options are for Mail Forwarding? I do the following on my paid hotmail account (which I get free with Verizon FIOS - was paying 79.99 per year for full MSN Premium).
========
Forwarding
You can forward your mail to one other e-mail address.
Forward your mail to the following e-mail addresses userid@me.com
=======