As far as I know this would all be done on the VPS itself. VMWare doesn't have anything like this on the hypervisor end that i'm aware of.
I'm sure there are several guides to do exactly what you want with a flavor of linux.
Also if this is for DDoS protection i'd recommend getting a provider that specifically says it has DDoS protection, and find out what the charges are for it. Some providers charge you for heavy traffic, and you only find out AFTER it happens =\