You got it. Basically, if R elects to free kick it's nothing more than a kickoff except you place the free kick line for R (now K) right where the interference took place. The teams line up 10 yards apart, timing rules are the same, the ONLY difference is that the kick can score a field goal. If that happens by the way NO time should run off the clock. And no, the new R team (the original punting team) can NOT rush because it would be a dead-ball encroachment foul just as on a normal kickoff.
Now, if the team that was interfered with asks to put the ball in play by snap and there's a foul by the defense (eg: defensive pass interference), the option to put the ball in play by free kick or snap is availab.e
Consider the following:
K's ball 4th and 10 from their own 1 yard line. K kicks to K's own 40 where he interferes with R's opportunity to catch the ball. R chooses an awarded fair catch and puts the ball in play 1st and 10 from the B 40. If B fouls on first down (eg: DPI) the penalty will be an automatic first down and it will be A's ball on B's 25. A can THEN request the ball be put in play by free kick...and yes, it can score a field goal.
I don't have my rules book handy. There are multiple rules to cover this. Under rule 4 "putting the ball in play" section 1, and in section 4.3 as well (Out of bounds and inbounds spots).
Hope that helps. If I mis-stated anything someone feel free to correct me.
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