If the aim is to limit the request processing rate for requests from a particular IP then I think what you can do is use the near-equivalent nginx.ingress.kubernetes.io/limit-rps. It seems to have a limitation on controlling the burst (which is five times the limit) but should do the job. There's an example of using this in https://carlos.mendible.com/2018/03/20/secure-your-kubernetes-services-with-nginx-ingress-controller-tls-and-more/

I'm not sure if it gives quite as much flexibility as the form of limit_req zone=one burst=5 nodelay but presumably it would work for your purposes?