If you want to do this through the IOS, you could write an ACL to watch that specific port (be sure to permit it and everything else!) and then log the ACL output.
If you send the output to a trap or syslog server, you can parse the results and get a measure of amount of bytes/traffic.
Of course, if you had a RMON probe or Sniffer, it'd be a heck of a lot easier.