This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
跰 combines 足 (foot) with 并, which likely contributes a phonetic element. The exact historical development is uncertain.
With 足 (foot) on the left and 并 on the right, imagine a foot stepping alongside something paired or aligned, but the meaning is unclear.
For ホウ, picture a foot stepping forward with a loud 'hou!' sound, like a martial artist's shout: hou -> ホウ.