I dont think its possible..mostly using PDAnet...
IF your on verizon, how about going for the motorola xoom instead?
How to: Bluetooth Tether to Motorola XOOM Using Original DROID - Droid Life: A Droid Community Blog
it can do it since it has honeycomb...otherwise you would either have to wait till honeycomb or do it a very messy way :/...and I cant exactly tell you the messy way as is because it would require a lot of testing and research...