Using Mobile Hotspot for PS3?

I plan on getting a new Sprint phone that has 3G. I have the option to pay an extra 20 or 30 dollars a month to be able to broadcast wi-fi and up to 5 devices can connect. I was just wondering if this would work for PS3. To be honest, the internet sucks at my house, and when someone is on the computer, I can't even really play. Therefore, I was wondering if I could just have my phone broadcast wi-fi and have my PS3 pick it up. It seems logical, but I'm just asking if it would work. Also, would it be fast? Thanks to anyone who answers!

Your internet will keep sucking if you try to play online using a phone's 3G conection

a mobile hotspot is like 30 a month, you would be better off adding that to improve your home connection