http://www.wmwifirouter.com/consumer/
Its not free, but it is well worth getting. This will make your Mogul appear as an access point operating in ad-hoc mode. There are other options, but this has proven to be the most stable for me.
Also, one thing to note, when using the data connection and the WiFi at the same time, the phone needs to be connected to an AC charger. This will make it become very hot. If possible, always keep the phone slid open.