Neuritis is a more of a symptom rather than a condition. Basically it's an inflammation of a peripheral nerve, often accompanied by degenerative changes in the nervous tissue. The effects are usually a tingling, burning, pin-and-needle sensation, or even a loss of sensation much like a peripheral neuropathy.
The treatment is directed at the underlying cause. There are many possible causes. The cause can be mechanical by injury or pressure to the nerve or it can be vascular by occlusion of the vessels that supply blood to the nerve. It can be infectious and caused by invading microorganisms, or metabolic by a deficiencies in vitamins or pernicious anemia. Any type of neuritis of the lower extremity that is getting worse, appears rapidly, or has an unknown cause should be seen by your podiatrist or physician.