The Freeway upgrade process is relatively simple.
Generally all you need to do is overwrite the existing files with the new version installation package.
Then you need to rerun the installation process, this time choosing the upgrade option.
You should always make sure you have a working full backup of your Freeway installation (files and database) prior to performing an upgrade. This is absolutely necessary and in case the upgrade fails for some reason, you will be able to restore your online store to a fully functional state from the created backup.