Yes that may work in some cases but not all depending on the version of OS X and VMware Fusion. The following is a little off point since it more about WiFi... Also depending on whether or not one is trying to exclusively use Ethernet or the AirPort for the VM. Especially with AirPort and again depending on the version of OS X and VMware Fusion the only way the Bridge Protocol would work properly for some reason is setting the AirPort to DHCP using manual address and assign a 169.254.x.x/16 IP Address. It may have had more to do with the WiFi Router in various case that I've help other users with in the past, just don't remember them all now.
Anyway, ~Von now has some options and see which works for him! 