git clone git://git.ti.com/glsdk/omapdrmtest.git
cd omapdrmtest

export PSDKLA=<PATH for targetfs_SDK3.0>
export PATH=<PATH for gcc-linaro-arm-linux-gnueabihf-5.3/bin:$PATH
export PKG_CONFIG_PATH=$PSDKLA/usr/lib/pkgconfig
export INSTALL_PATH = <Install location>
export DRM_CFLAGS="-I$PSDKLA/usr/include -I$PSDKLA/usr/include/libdrm/ -I$PSDKLA/usr/include/omap -I$PSDKLA/usr/include/libkms"
export DRM_LIBS="-L$PSDKLA/usr/lib -L$PSDKLA/lib -lattr -ldrm -ldrm_omap"
export GBM_CFLAGS=-I$PSDKLA/usr/include/gbm
export GBM_LIBS="-L$PSDKLA/usr/lib -lgbm"
export LIBUDEV_CFLAGS=-I$PSDKLA/usr/include
export LIBUDEV_LIBS="-L$PSDKLA/usr/lib -ludev"
export DCE_CFLAGS="-I$PSDKLA/usr/include/dce"
export DCE_LIBS="-L$PSDKLA/usr/lib -ldce -lavutil -lavformat"

$ cd $PSDKLA/usr/lib
$ cp libudev.so libudev.so.0
$ cp libz.so libz.so.1 

./autogen.sh  --host=arm-linux-gnueabihf --target=arm-linux-gnueabihf  --prefix=$INSTALL_PATH --with-sysroot=$PSDKLA


1)FFMPEG header files are missing in targetfs. 
  Extract ffmpeg source code from https://www.ffmpeg.org/releases/ffmpeg-3.0.tar.xz
  Copy libavcodec, libavformat and libavutil directories to /usr/include of targetfs_SDK3.0.
  You may still not find one libavutil/avconfig.h. This file is a generated header file ffmpeg is built. So ffmpeg can not be compiled,
 If you see error for libavutil/avconfig.h, create a file avconfig.h in /usr/lib/libavutil with following as its contents
 
#ifndef AVUTIL_AVCONFIG_H
#define AVUTIL_AVCONFIG_H
#define AV_HAVE_BIGENDIAN 0
#define AV_HAVE_FAST_UNALIGNED 1
#endif /* AVUTIL_AVCONFIG_H */


Create symbolic links libavcodec.so , libavformat.so, libavutil.so and libdce.so in /usr/lib/
 ex: ln -s libavcodec.so.57 libavcodec.so
 
2) dce directory in /usr/include is missing in targetfs_SDK3.0. Copy targetfs_7_04/usr/include/dce to targetfs_SDK3.0/usr/include

Now you should be able to build with make command.