If you want to use PVlans, you'll have to use hardware that supports them.
PVlans basically provide vm isolation on ther same subnet . . If you want to provide isolation without a change of IP (In which case normal VLans would work), you'd have to set up some sort of encryption or firewall.
Of course you can continue to maintain isolation from within the VM environment as the DV switches do support PVLans.
You can configure ESX to use VLan 4095 which passes all traffic . . or 4096 which will manage all Vlans and keep the VLan info intact . . though I am not sure if this includes PVlan info.