To backup to
a network volume, open Terminal and type (on 1 line):
defaults
write com.apple.systempreferences TMShowUnsupportedNetworkVolumes 1
Then you'll
be able to see mounted network drives in the Time Machine!
Beware that for total system recovery, when you boot from an OS X install
DVD, the line above will fail as you cannot override the preferences
on the DVD. My solution would be to install the OS from the DVD, then
change the preference, then connect to the network drive and recover
your data.