Network configuration?

I. Have parallels 8 with a VM that has XP installed. I need to configure the network so that
- the VM has a fixed IP address in the 192.168.2.x range
- the programs running in the VM can use the Internet
- the programs running in the VM can communicate with programs running on my Mac
How do I do that? Is it in the parallels preferences? Should I use shared or host-only? Should I select "show in system preferences"? Should I use DHCP? What should I enter in the IP address fields?
Is it in the XP setup? Is it both? Questions, questions, questions...

I want to run one flight simulator (running in the VM) for the flight model and systems and another (running on the Mac) for the scenery, plus some other accessories (also running in he VM) for real weather and other goodies.

And another question: can I run several VMs at the same time, with different fixed IP addresses?

 

Hi Harry,
just set Bridged networking in VM preferences, go to XP setup and do whatever you need - it will work just like it's a real host with real network interface

 

Now the question is, where do I find the network settings in XP? I've looked around but I couldn't find any input fields for ip address, subnet mask or stuff like that...

But before I do that, I'm gonna make a copy of that VM, just in case it goes wrong.