WordPress MU

Hello, i want to develop a site hosting some blogs using WP mu. Every blog has it's own admin page and it's own specific url.

But i want to know if it's possible to create an index page of all my site blogs in the same page. This could be at http://www.myurlblogssite.com, and every individual blog has this kind of url individual.myurlblogssite.com.
In this index page i want to emulate a "planet" with all the blogs listed and the last xxxx posts of each blog and i's links.

Do you know if this is possible? what plugin i need? or waht i need to do in the admin page of my blogs site?

Thanks a lot, regards

Please don't spam the forums. One post on a topic is fine.

But i want to know if it's possible to create an index page of all my site blogs in the same page.

Yes, please do a search for 'list all blogs' as it's been discussed many times over in the past.