Can i connect my bluetooth pda to my ipod touch and use my ipod touch wifi as a internet connection for my pda?

i have palm tungsten e2 nad i had a built in bluetooth. I’ve read that i can connect to a phone and use its internet connection. I have also heard that i can connect to my pc with a bluetooth usb device for internet. I am wondering if i can use my ipod touch with wifi capabilities to connect to my wifi at home and get internet, and then connect my pda to my ipod via bluetooth and use it’s connection.
I’m sorry if this doesn’t make sense.
i want to use my ipod’s wireless internet connection and share it w/ my pda via bluetooth, does that make more sense??