Basically, you patch ESXi 5.0 to Patch 02, then you create a Windows 7 x64 VM, then change that VM to Windows 8 x64, then install Tools manually.
I describe and show this installation (in video) in far more detail here:
http://tinkertry.com/windows-8-consumer-preview-on-esxi-5-0-patch-02/
There's a similar thread here:
http://communities.vmware.com/message/1999883#1999883
which will guide you to the great screenshots shown at the site below:
http://www.ivobeerens.nl/2012/02/29/install-windows-8-consumer-preview-as-vm-in-vmware-vsphere-5/
but keep in mind you'll need to go with Windows 8 x64 (not Windows Server 8) if you want to be able to turn on the "3D Acceleration" checkbox, although not sure how much that matters given you cannot install the VMware Tools version of the video driver.
What does matter is that the Aero interface, and sound over Remote Desktop Connection, all seems to work fine.