Is it possible to Share Android phone 3G internet connection to multiple clients (tabs/computers) via bluetooth I want to share my android phone 3G internet connection (via bluetooth) so that multiple clients (other android phones/tabs/laptops) can access shared internet simultaneously. 

Is it possible to have the above?
There's the bluetooth PAN profile which allows just that.
It is included with CM7+ and from Android 4.0 onwards (or already 3.0?). Bluetooth PAN's host (the device that provides the internet) acts as a router which does NAT + issue dhcp adresses for its clients. 

There are also  Bluetooth DUN profile apps that allow this (they provide a virtual GSM modem and may also allow for more than 1 connection at a time):
See host+client BlueDUN apps from Mirko Solazzi