(The following steps apply to Parallels 4. For updated steps using Parallels 5, please see this post at bechase.com.)
In Geek & Mild’s post on using MAMP and VirtualHostX in conjunction with VMWare, there are no less than four requests in the comments section asking how to run the same local webdev set-up using Parallels instead of VMWare. Well, I’ve got it running on my machine and I’m here to show you how I did it. It’s quite easy, actually. (If you have not yet set-up MAMP and VirtualHostX, do follow Sean’s excellent steps in the aforementioned article above).
- First of all, go to OS X’s System Preferences and click on Network.

- Select Parallels NAT in the left pane. Copy the IP Address below the Configure drop-down with “Using DHCP” selected.

- Select “Using DHCP with manual address” from the Configure drop-down menu and paste the IP Address you copied onto the IP Address field. Click apply.

- Launch Parallels and go to Start>Run.

- Copy and paste the following in the Open field:
wordpad c:\\windows\\system32\\drivers\\etc\\hostsand click OK.
- Type on a new line each of your hosts using the IP from the OS X side (the IP supplied here is just a sample):
10.211.55.X mysite.dev
10.211.55.X mysite2.dev

- Click Save. You should now be able to view the virtual host sites you set up in VirtualHostX under Parallels.

Resources:
Setting Up a Killer, Local Web Development Environment on a Mac With MAMP and VirtualHostX
