I've been doing this for a while using the Google Authenticator PAM plugin[1]. I use the same module to add two factor authentication to both SSH and OpenVPN connections.
You'll need to install Google Authenticator on your phone to complete the set-up.
Here are my notes: https://invaliddomain.com/openvpn-google-auth-howto.txt (please excuse the lack of a real SSL cert).
Once enabled, your password becomes <password><OTP> .. e.g. Pa55w0rd!987654
Hope that helps.