Here's a method that returns a List of entries, sorted by frequency (UPDATE: used a flag to toggle ascending / descending order and used Guava's favorite toy: the Enum Singleton Pattern, as found in Effective Java, Item 3 ):
private enum EntryComp implements Comparator<Multiset.Entry<?>>{
    DESCENDING{
        @Override
        public int compare(final Entry<?> a, final Entry<?> b){
            return Ints.compare(b.getCount(), a.getCount());
        }
    },
    ASCENDING{
        @Override
        public int compare(final Entry<?> a, final Entry<?> b){
            return Ints.compare(a.getCount(), b.getCount());
        }
    },
}
public static <E> List<Entry<E>> getEntriesSortedByFrequency(
    final Multiset<E> ms, final boolean ascending){
    final List<Entry<E>> entryList = Lists.newArrayList(ms.entrySet());
    Collections.sort(entryList, ascending
        ? EntryComp.ASCENDING
        : EntryComp.DESCENDING);
    return entryList;
}
Test code:
final Multiset<String> ms =
    HashMultiset.create(Arrays.asList(
        "One",
        "Two", "Two",
        "Three", "Three", "Three",
        "Four", "Four", "Four", "Four"
    ));
System.out.println("ascending:");
for(final Entry<String> entry : getEntriesSortedByFrequency(ms, true)){
    System.out.println(MessageFormat.format("{0} ({1})",
        entry.getElement(), entry.getCount()));
}
System.out.println("descending:");
for(final Entry<String> entry : getEntriesSortedByFrequency(ms, false)){
    System.out.println(MessageFormat.format("{0} ({1})",
        entry.getElement(), entry.getCount()));
}
Output:
ascending:
  One (1)
  Two (2)
  Three (3)
  Four (4)
  descending:
  Four (4)
  Three (3)
  Two (2)
  One (1)