This will help you act Shakespeare and [optional] understand his language! Trust me, this will help get there with a little practice and determination!

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[edit] Steps

First, choose and print a monologue off the internet or go to a bookstore and buy a book play (most are cheap).
Read the whole monologue at least 10 times (or more, if you need).
Try to understand the meaning. Keep re-reading it until it makes sense.
Picture that character in your head and what state he/she is in; is he/she nervous, sad, mad, giddy, or just weird, melancholy?
Try to portray that character and recite the monologue you have chosen.
Keep practicing, and before you know it, you will be able to act out Shakespeare! (and possibly understand Shakespearian English).
Use your body. In Shakespeare's time, actors had very little props. This meant that body motions were very precise and fluent. When performing Shakespeare, be sure to not only perform the dialect, but also use every movement of your body to advance the story. For example, pointing the toes can show grace, elegance, and strength depending on the situation. So just keep that in mind.

[edit] Tips

If you can't decipher the language or act it out, ask family, friends or close acquaintances to help you out.
Don't be afraid to overact; with practice it will become easier to act more subtly.
Have fun!

[edit] Warnings

Do not start off your Shakespearian acting career with a complex speech from Hamlet! Begin with a light, funny play, like Twelfth Night or A Midsummer Night's Dream.