http://sauerbraten.org/docs/models.html this link should be your best friend when it comes to making model cfgs.
md3spec MESH S
MESH specifies the name of the mesh this setting applies to. S is the specular intensity (not given or 0 gives the default of 100, good for metal/plastics and anything shiny, use lower values like 50 for wood etc, -1 means off entirely).
Edit: or you could just use the mdlspec command under common commands
mdlspec S
S is the specular intensity (not given or 0 gives the default of 100, good for metal/plastics and anything shiny, use lower values like 50 for wood etc, -1 means off entirely).
As far as lighting your model goes look at the command md3ambient?
You can also use glowmaps which could make your model give off light.