Oculus Rift support is planned (I have an Oculus Rift devkit boxed and sitting next to me) but there are a couple obstacles to getting it working.
The Freespace2 engine code isn't exactly the most well-written codebase out there. When coding stereoscopic rendering, you basically need to render the same scene twice, albeit using two different perspectives. The frame rendering function (game_render_frame()) assumes it's only going to be called once per frame with only one eyepoint. A lot of redundant work that doesn't need to be done will be done if you call this function twice. So there needs to be a bit of restructuring done to make sure the code that needs to actually render stuff is called twice while the code that sets it all up is only called once. A bit easier said than done.
Second is the OpenGL draw call overhead. The way our OpenGL calls are structured aren't very efficient so even if you get stereoscopic rendering in the game, I doubt it'll be able to run at an acceptable framerate. A lot of my upcoming rewrites and code restructuring should improve framerates but I don't know if it'll be enough. I've been thinking of a way to use draw call instancing so when rendering a model, we render it twice in the same draw call but send the duplicated rasterized triangles to both right and left stereoscopic framebuffers using a geometry shader. There still may be a performance hit but at least the hit will be on the actual GPU (where we're barely even scratching at the moment)
Third is the upcoming deferred rendering and soft shadows builds that I'm hopefully going to get into the engine soon. That adds a bit more work to the equation and raises some additional questions about how we're going to handle doing deferred lighting for two stereoscopic framebuffers. Do I do the instanced rendering trick again using geometry shaders? Do I just do the lighting pass twice and just take the performance hit?
So... yeah. That's a lot to swallow and I don't mean to discourage you. But coding support for VR in this engine requires a significant amount of knowledge in computer graphics and OpenGL. This isn't a feature I'd recommend for coders new to this engine.
I hope you stick around though! It's always great to get new coders. I hope you find something else you can start with and then maybe you'll be able to tackle something as... daunting as this feature.