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To get the free bonus, you will need to download the latest build of Dropbox here (available for Windows, Mac OS X, Linus xB6 and Linus xB6_64). After installing, connect your camera or phone to your computer and the importer should auto-run. Select the Dropbox importer, and your files will be imported to your Dropbox folder.
You'll receive a 500MB space bonus for your first import (any size), and then an extra 500MB storage bonus for every 500MB of photos/videos you upload thereafter (up to 4.5GB total).
If you count the 500MB bonus from your first import, you can get up to 5GB of additional storage for free! Since this feature is still in beta, they suggest that you backup your Dropbox files before upgrading to the build. Make sure you read through the notes before trying this out.