Unless you can arrange to have the accepted IPs in one subnet, you'll have to list them seperately, reversing the logic:
Code:
iptables -A FORWARD -i eth1 --src 5.2.2.2/32 -j ACCEPT
iptables -A FORWARD -i eth1 --src 5.2.2.11/32 -j ACCEPT
iptables -A FORWARD -i eth1 -j DROP