This is the source to the tutorial I followed with some additional details that were missed. This tutorial shows you how to create a pod using your own private repo and use your newly created pod.
http://code.tutsplus.com/tutorials/creating-your-first-cocoapod–cms-24332

You will need to make one change to the code to make it compatible with Swift 2.0.

After updating your BlinkingLabel, be sure to add / commit / push your changes to your github.
cd <your pod folder>
git add -A
git commit -a
git push -u origin master

Before you can run the example, you will need to update the Podfile inside the Example folder to point to the location of your git. 

Running sample can be found here: https://github.com/dynamite8/BlinkingLabel