The problem: Recently I had to perform a kernel debugging on two MS windows VMWare virtual machines connected via a virtual serial port, and while running on a GNU/Linux host.
The layout: GNU/Linux host with Arch Linux distribution (even though the distro does not play a crucial role in this scenario), with VMWare Workstation 11 installed, hosting two MS Windows virtual machines - MS Windows 7SP1 x64 (the DEBUGGER), and MS Windows 8.0 x64 (the DEBUGGEE).
The solution: I did quite a lot of Googling to figure this out, and there was some information here and there, but I was no able to find a solution that would work for my case. Therefore, I have compiled my findings and a working step-by-step approach in the solution written below. Hopefully this will be also useful for someone else as well.