Shin splints are pain to either side of the leg bone, caused by muscle or tendon inflammation. It is commonly related to excessive foot pronation (collapsing arch), but may be related to a muscle imbalance between opposing muscle groups in the leg. Over use is also a common cause of shin splints.
Proper stretching and corrective orthotics (shoe inserts) for pronation can help prevent shin splints. You should start implementing the RICE technique and see a doctor to get the best treatment.