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No, the ps3 will not act as a bridge. Maybe if you installed Linux on it and did some magic... But you're options are either move your router closer to your tv or string a longer cat5/telephone cable.
Personally I would call and complain since the connection they want is used solely for ordering pay-per-view (which you can also do by calling them). They just mandate that it be hooked up so you'll be tempted to order all sorts of shit. I would bet you could get a csr to waive the fee if you bitch just right.
When I had Dish Network (I canceled in 17 hours) it only used a phone line. I had to run a phone cord around my family room behind the couches & tables to a phone jack. I would recommend calling in and complaining on their stupid use of technology.
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Personally I would call and complain since the connection they want is used solely for ordering pay-per-view (which you can also do by calling them). They just mandate that it be hooked up so you'll be tempted to order all sorts of shit. I would bet you could get a csr to waive the fee if you bitch just right.