you could if you put all the ip in to seperate fields.
$ip1=192
$ip2=0
$ip3=0
$ip4=10
if you did this you could write an sql like this
SELECT * FROM $table WHERE $ip1='192' AND $ip2='0' AND $ip3='0' AND ($ip4 >='0' AND $ip4 <=255);
This would give you what you need.