The follow is a short how to for creating a private network, for instance used as cross-over type connections amongst two virtual machines. This was doing using Windows version of VMware Server, with Fedora 8 as the guest OS.
Create a Private Network
Before you can add a new ethernet device to the guest images, we first need to create host only network. This is done using from the 'Host->Virtual Network Settings...' menu within the VMware server console.

From the 'Host Virtual Adapters' tab, click the 'Add..' button.

At the Add Network Adapter dialog, choose one of the free VMNet names to add, in our case VMnet3 was open.
Finally, back at the Host Virtual Adapters tab, click 'Apply' before proceeding.

Now move to the 'DHCP' tab, and select the 'VMnet3' network. Click 'Remove' since we don't need to provide DHCP service for this virtual network. Now choose Ok to get back to the VMware server console.
Adding Ethernet Device to Virtuals
With a new private virtual network created it is time to "plug in the cable" for our virtual machines, by performing the following. With the guest machine powered down, select 'Edit virtual machine settings', then click 'Add...' on the hardware tab.

Select 'Ethernet Adapter' from the Hardware type list, then 'Next >'

At the 'Network Type' dialog, change the connection to 'Custom', and select our 'VMnet3' option, making sure the 'Device status' is set to 'Connect at power on'.
Configure Our New Network
With the all the guest images powered, it is time configure the devices within Fedora. By default, Fedora will try to bring up the interface eth1 using DHCP. Since we have have DHCP disabled it will fail to acquire an address (at take a bit for startup to complete). Once you are logged into a console, we need to configure our static addresses for each virtual.
First, confirm the new network adapter is there, by running ifconfig eth1:
#ifconfig eth1
eth1 Link encap:Ethernet HWaddr 00:0C:29:2C:AF:B6
inet6 addr: fe80::20c:29ff:fe2c:afb6/64 Scope:Link
UP BROADCAST RUNNING MULTICAST MTU:1500 Metric:1
RX packets:991 errors:0 dropped:0 overruns:0 frame:0
TX packets:39 errors:0 dropped:0 overruns:0 carrier:0
collisions:0 txqueuelen:1000
RX bytes:240702 (235.0 KiB) TX bytes:2654 (2.5 KiB)
Interrupt:18 Base address:1480
Your output should be similar. Make note that there is no 'inet addr' line, since we don't have the eth1 device setup as static. To do so, edit /etc/sysconfig/network-scripts/ifcfg-eth1 to look like the following:
# Advanced Micro Devices [AMD] 79c970 [PCnet32 LANCE]
DEVICE=eth1
BOOTPROTO=static
IPADDR=10.0.0.11
ONBOOT=yes
HWADDR=00:0C:29:2C:AF:B6
TYPE=Ethernet
Notice the IPADDR line...this will be the static IP address used for the private network. For each virtual machine you want to put on this network, configure it the same as above, editing the ifcfg-eth1 file, but change the IPADDR to be their unique IP address on the 10.0.0 non-routed network.
Our last step is to remove the restrictive default firewall rules of iptables applies. Since this network will be private among only the hosts we want, we can accept all traffic on this interface by editing /etc/sysconfig/iptables adding the following line:
-A RH-Firewall-1-INPUT -i eth1 -j ACCEPT
Making sure it is somewhere above the last REJECT lines near the bottom. To further restrict access down to the port level, you would have to add the following rules to the iptables file:
-A RH-Firewall-1-INPUT -s SOURCE_IP_ADDRESS -p tcp --dport 8000 -j ACCEPT
Where SOURCE_IP_ADDRESS is the source IP address allowing in port 8000 tcp connections.