Do you have a recent full backup of the server? "rm -rf /*" deletes all files recursively from the root directory to the farthest sub-directory. If you do have a full backup you can rsync from, you could attempt to rsync everything apart from the /dev, /sys, and various other possible directories that get populated by the system or services automatically like /var/run. Depending on your backup and restore methods, this could work or be very messy. Another possibility to to reload your OS and restore selectively what you need (web config, sites, databases, etc.), if you have them backed up.
If you don't have a backup of your server you are basically out of luck as the only thing you'll have left after running rm is empty directories apart from a few .named "hidden" files.
Generally you'll need to do a "yum install rsync" after booting to your rescue CD so that your rescue OS also has the rsync utility for use. You can then mount your harddrive and rsync from your server holding the backups to your botched server.
If somehow you managed to hit ctrl+c before the most important files were removed, then it is possible to salvage some things and rsync them to a remote server before re-setting up your botched server. You could also tar and gzip directories and transfer them elsewhere via sftp, and back after a restore or OS reload.
None of this is really trivial and depending on the amount of data, it could take quite a while to do.