RFC-2217 The COM Port Control Protocol
Telnet COM Port - RFC Official
Using Python, How do I make a virtual serial port on Linux?
HowTo: Virtual Serial Ports on Linux using socat, and more
EXAMPLE FOR REMOTE TTY (TTY OVER TCP) USING SOCAT
Make RS232 Serial Devices Accessible via Ethernet
Create a virtual serial port connection over TCP
Try socat. Possible scenario:
socat pty,link=/dev/virtualcom0,raw tcp:192.168.254.254:8080&
socat creates TCP connection to 192.168.254.254:8080, so that everything, that will be written to /dev/virtualcom0 will be forwarded to 192.168.254.254:8080 and vice versa.
Another approach would be to use RFC2217 via ser2net on Linux sever side and RFC2217 driver on Windows side (for example http://www.hw-group.com/products/hw_vsp/index_en.html single port version). You can also try to get http://pyserial.sourceforge.net/ to work with ser2net.