Mossi,
I use XDA extensivly and have "rooted" (unlock the phone, jailbreak, different OS's use different terms) Basically in order to install a custom kernel or rom you need to be rooted. This can be a little tricky, however there are usually newbie forums over on XDA. If your hotspot isn't working then this would be the next choice. Just remember however that if you do root your droid, that you must restore it back to factory settings before taking back into your carrier for service. Rooting technically voids the warrenty, however I've never encountered a situation with either of my 2 preivous android phones where a simple RUU Recovery (The exe file on windows that will restore your phone to complete factory settings as if you just pulled it out of the box) Feel free to send me a personal message I can help, though I don't have a droid X, most of android is the same. I use my phone to wirelessly tether my ipad. If you have 4g then your crankin, but 3g is good enough to check mail/web and even stream some music. hope this helps
Here is link to Droid X on XDA:
http://forum.xda-developers.com/forumdisplay.php?f=687
Droid X WIkki - Start Here:
http://forum.xda-developers.com/wiki/index.php?title=File:Motorola_Droid_X.png
It looks like z4root works on droid X, though I've never used it, it's supposed to be an easy way to root. I don't see any separate kernel's for droid x, likely you will need to root and load a "ROM", which includes the kernel, that has better wifi binary files and drivers. PM me for more help