Since you have 5 legit IPs, you could connect up to 5 machines to the modem with a switch or hub (either will work), but you'd lose the security that a firewalling/NATting router gives you.
In terms of switch->router->other PCs, yes- there's no problem with doing that.
I'd go with chanto!'s port-forwarding suggestion though, that will keep all of your machines behind the router.
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