Of course it can be done. It is simple, basic networking. You don't need a hub, switch, router or cross over cable as the port is autoMDX, so a standard cable is fine (assuming it is rated for the speed you want to connect at). All operating systems that support networking will work.
As Fordem said set static IP addresses in the same subnet. An alternative is to keep DHCP but run a DHCP server on your PC, or the one in the firmware on the DNS323.