Can you tunnel iPhone internet traffic through a local proxy on a Mac computer? I want to monitor the requests (and responses) my iPhone is sending via the internet. I have a web debugging proxy called Charles on my Mac, which I would like to use to monitor my iPhone's connections. It basically works by configuring a proxy to localhost and reading that data.

I tried to share my internet connectiong my Mac, but I cannot both share my internet over Wi-Fi and connect to my Wi-Fi at the same time?

How can I accomplish this?
You may want a second network adapter, but first try adding a second WiFi connection in the network preference pane.

You could pick a static IP address that is valid, but outside the DHCP's range (or reserved and not assigned via DHCP). Then your iPhone could proxy against the static IP and set up IP forwarding from the command line.

It would be easier to have a second interface and let the Mac software handle the routing for you. Also, be aware that firewalls should be off or configured to allow inbound traffic from the iPhone.