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Yes, if your computer has Airport. If it does, go to System Preferences>Sharing and look for Internet Sharing.

You can share your wired connection to computers using Airport and then set a network name and password.
 
Why not try it?

If it doesn't work out of the box, try these settings on the touch;

IP 10.0.2.2
Subnet 255.255.255.0
Router 10.0.2.1
DNS 10.0.2.1

I created a network and it showed up on my ipod but when I chose the network, it said, "unable to join network". I know that this should work because I have researched it on google. by the way I am running 10.4.11 and have a 2g touch.
 
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