Hmmm. I think it ultimately depends on the activity you are performing. If the VSMS instances are registered by hostname, I think VSOM constructs URIs using this hostname, and then it's supplied to the client machine requesting the resource. At this point, your client would need to resolve the provided hostname for actual IP connectivity.
If you are just using this for a lab setup, you can add a hosts file manual entry to override/supercede your typical DNS name resolution. Depending on what you are actually trying to accomplish, it may work out for you.
http://www.rackspace.com/knowledge_center/article/how-do-i-modify-my-hosts-file
Cheers!
Scott Olsen
Solutions Specialist
Bulletproof Solutions Inc.
Web: www.bulletproofsi.com