Sure, just place the virtual machine in a folder everyone can access (/Users/Shared is probably a good location) and make sure it's set so that they all have permission to access it. The software itself will work for anyone who's not set up with Parental Controls that would disallow it, so that won't be an issue. You can even set up different accounts for each person in the virtual machine so that they're logging into the same Windows installation but choosing their own account just like on the Mac, which allows for even more possibilities.
jW