If you tap the help button in Muse Monitor, I've put in all the instructions to get you connected. Basically, just go into settings and put the IP address of you computer running MuseLab, then hit the stream button!
You may find this MuseLab config helpful [muselab_configuration.json (right click "Save As")]. If you open this config, it'll set up all the basics for you. The only thing not in this config are the marker configurations for blink and jaw_clench as they tend to fill the screen quite quickly. If you want to enable them just add the paths "/muse/elements/blink" and "/muse/elements/jaw_clench" to the Markers section.
If you want to setup MuseLab manually, then start listening on port 5000 UDP, then start adding visualizer components.