[ttt3ts]

Thanks! That is exactly what I wanted to know.

[endgame]

Another thing: EC2 instances (VMs) have a "Source/Destination IP check" which makes them ignore any packets not intended for them. If you want an instance to do NAT, you need to turn this off.

[tedivm]

I've also got an open source terraform module for this-

https://github.com/tedivm/terraform-aws-nat