I am planning to connect my PC with another PC in the neighbourhood via Bluetooth dongle. I need to Know about the Maximum range(distance) and the data speed i can get. Also is it possible to have a bluetooth shared network with more than 2 PC's connected together ?

don´t know about sharing a network with pcs about the limit range should be displayed on the bluetooth dongle package.
some are 10 meters, others are 100 meters. it depends.

Class I has range of 100m
Class II has range of 10m

Bluetooth 1.1 and 1.2 reach speeds of 723.1 kbit/s
bluetooth 2.0 reach speeds of 2.1 Mbit/s

this is all from wikipedia

I haven't found a bluetooth 2.0 that would enable 2.1 Mbit/s, but you can finde one with 1 Mbit/s.

I think I read somewhere but I do not remember where that you can connect up to 8 devices at once but the bandwith will suffer.

I so a bluetooth Hub somewhere it has 3 bluetooths in one dongle so that is a cheap way to solwe your problem, or if you buh 2 or 3 usb dongles