In collaboration with Mike W. from WEIInc, (basically, they gave me the code and I tweaked it a little bit), here is a patch for enabling the ISC DHCP 3.0.1rc10 server to run in the Cygwin environment on WinNT/Win2K/WinXP. I've tested it on WinNT and WinXP. See the example-dhcpd.conf that gets created by the patch for how to limit responses to one interface on multihomed systems. The patch creates it in the root directory of the tree, at the same level as site.conf.
You can get the source dhcp-3.0.1rc10 from here too.
** Please note that this is a slow server with limited bandwidth and a total transfer cap, so be nice and get the source somewhere else if you can. Thanks.
$ cd /tmp
$ tar xzf dhcp-3.0.1rc11.tar.gz
$ cd dhcp-3.0.1rc11
$ patch -p1 < ../dhcp-3.0.1rc11-cygwin.patch
$ make install
$ cp example-dhcpd.conf /etc/dhcpd.conf
$ touch /var/spool/dhcp/dhcpd.leases
$ vi /etc/dhcpd.conf
$ dhcpd -t
$ dhcpd -T
$ dhcpd -d eth1
Here is link to a message of someone else offering to help people get DHCP going using CYGWIN: Cygwin Mailing list
You can also contact me at: skip 2 planetoid ta oohay tod moc, and I'll do my best to help out.
Sorry for the obscurity. To make the translation, convert ta to @, reverse some words, and remove the spaces (yes, it's a long username).
The ISC Website is a great place for information.
Also, see their mailing list archives for past issues and a lot about configuration.