I have actually two questions.

1st.
Does m0n0wall's traffic shaper work on a bridged connection?

2nd.
Does m0n0wall's traffic shaper work to shape p2p file sharing 
applications?

The problem I have is one person can bring down my whole network by 
running a p2p application.  The p2p apps open 100's of connections at 
the same time and use up every bit of bandwidth I have.

I have been looking for a way to block it, but I haven't turned up 
anything yet.  All I can do is blackhole the IP address that it's 
coming from.

It's so bad that even DHCP doesn't work to give people IP addresses.