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You can use this kind of network to share files, a printer or another peripheral device, and even an Internet connection.

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Posted by waqasahmad

yes
By enabling ICS in windows or you can download wingate for the same purpose.

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Posted by Hash007

There are different methods to share one internet connection on multipe numbers of computer.
1- ICS(Internet Connection Sharing)
In this method you can just enable Internet Connection Sharing check on your gateway.. The limitation of ICS is you must have 192.168.X.X IP addressing scheme on your network. another limitation of ICS is it can support upto 15 Computer(approx.. dont remember exact figure).
2-NAT
NAT or NATING basic function is to convert private IP to Public IP and vice versa.
It work same like ICS but have some enhanced features and can used for large number of client computers.
* NAT has also option of Firewall.
* No limitation of IP Scheme..it also provide dynamic IP addressing
* Also have a feature of Server Publishing
*Cannot cache
3- Proxy Servers (e.g Microsoft ISA Server)
Fully enhanced product which provide Internet sharing , Firewall(Fully featured )and Caching.

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Posted by henry