$ brew install pyenv
$ pyenv install pypy3.9-7.3.9
I like using PyEnv for managing my Python versions. It will natively compile Python builds and should be doing the same on M1 (which is what I'm using). `pyenv install --list` shows you what is available.
EDIT: Not sure why they don't have newer versions of PyPy there (I don't use PyPy) but all it takes is a PR to here: https://github.com/pyenv/pyenv