The simplest and most efficient way is to precompile your lua sources into bytecode when you build your app; you then simply load this regular Lua bytecode in your regular lua 5.1 VM, at runtime.
If it is mandatory for you to compile Metalua sources on-the-fly, then put the metalua.* libraries in a place accessible to your LUA_PATH, and use mlc to compile and run your metalua code
require 'metalua.compiler' -- load, among others, mlc
f = mlc.luafile_to_function [[c:\tmp\a_metalua_source_file.mlua]]
g = mlc.luastring_to_function [[ inc=|x| x+1; assert(inc(1)==2) ]]