You can do this with a Robofab pen, although I've been told that Fontlab has stability issues with fonts that use the same component numerous times. But for something this simple I would probably just do all the work by tracing over the glyphs in Illustrator with a custom brush and then import the finished glyphs back into Fontlab. If you go that route be sure to read the documentation on using Fontlab with Illustrator before you start.
You'll also have to re-draw some glyphs because not everything in Futura is going to work as a dotted lines. And the spacing and kerning will likely need an overhaul if you need to use the font for anything other than all-caps headlines. If you need to hire someone to work that out drop me a line, jp@dunwichtype.com.