I'm not entirely sure what you mean by "K is compact iff any collection of closed subsets of K with the finite intersection property has nonempty intersection" since "a collection of sets is said to have the finite intersection property iff any finite subecollection has nonempty intersection".
We say a collection of sets C has the finite intersection property iff for all finite subsets F of C, \bigcap_{S\in F}S is nonempty.
We say that a collection of sets C has nonempty intersection iff \bigcap_{S\in C}S is nonempty.
The stuff you need to prove is:
Suppose K is a compact space, and suppose C is any collection of closed subsets of K. If C has the finite intersection property, then C has nonempty intersection. Conversely, suppose K is some space. Suppose that if C is a collection of closed subsets of K with the finite intersection property also has nonempty intersection. Then K is compact.
This is equivalent to:
Suppose K is a compact space, and suppose C is any collection of closed subsets of K. If C has the finite intersection property, then C has nonempty intersection. Conversely, suppose K is not compact. Then there exists a collection C of closed subsets of K with the finite intersection property but with empty intersection.
So what you have to prove is of the form A\Leftrightarrow(B\Rightarrow D) where A is the sentence "K is compact", B is the sentence "C is a collection of closed subsets of K with the finite intersection property", and D is the sentence, "C has nonempty intersection."
Like I said, the proof just requires the finite subcover formulation of compactness, together with DeMorgan's law. As a hint, consider some arbitrary collection
\mathcal{C} = \{C_i\}_{i\in I}\mbox{ where }(\forall i\in I)(C_i \subset K\mbox{ is closed})
Now consider the collection of open subsets of K:
\mathcal{O} = \{K - C_i : i \in I\}
This is just a collection of open sets, it need not necessarily cover K. What condition on \mathcal{C} is necessary and sufficient for \mathcal{O} to be an open cover of K?