That's a fairly simple setup. I've got my FC4 box running as a router between my dialup connection and my LAN and wireless LAN, and that setup is slightly more complex as it involves NAT, but yours should bee fairly straightforward.
Install FC3 on your machine of choice (any particular reason why FC3 and not FC4?). Edit /etc/sysconfig/network and change the line reading
to read
That's all there is to it. You may also want to configure the firewall a bit - the default RedHat firewall configuration out-of-the-box leaves the FORWARD chain (which is the chain used for routed packets) with a policy of ALLOW, which is a bit insecure, so you may want to tie that down a bit, particularly any of these machines has access to the internet - you may for example want to set it so that packets with a state of ESTABLISHED or RELATED are always permitted, and packets from your 3 LAN networks are permitted out to the internet, packets between LAN networks are permitted, but any other packets in from the internet are dropped.
By the way, you do know that 11.0.0.0/8 isn't a privately-assigned IP range? So if you ever wanted to access a website that had an 11.0.0.0 address you wouldn't be able to because you're using the subnet as your local LAN.