Alright, I don't know if you can (or how you would) throttle the bandwidth using your way...and, because whenever my upload goes over 10 kb/sec, my download gets shot all to hell, I just set up an ftp server with my songs. As already said, the limit is 10 kb/sec TOTAL. That means that if 5 of you are downloading, you'll probably only get like 2 kb/sec...which kinda sucks. Put this into your broswer.
ftp://nubblies:[email protected]/