In my experience tc is only designed to work in one direction, so I had to use a separate VM, place that machine between the test host and the rest of the network, then enable TC on both interfaces.
My understanding us that typically you'd create a minimal router out of a minimal server distro installation (either physical or virtual) and make a couple of scripts to automate standard settings.
Source: At some point I was part of a team that used a setup like this for testing.