It is probably possible with a vmware/virtual box, but I wonder why the heck would someone like to that when you can debug directly on a real device using B4A-bridge. There is simply no way an emulation on a PC will work better/faster than a real device.
I was thinking to make full PC based workstation where OS is Android OS (x86/x64) on it and to run (for testing and/or for production use) application made with B4A?
So, it's not about using virtual machines.
I was only mentioning VMs because they will probably work better (read support more hardware) than a real PC. I think you will need specific specs for your PC to do that if you want to enable stuff like bluetooth. Remix OS (discontinued) and Android-x86 come to mind, but I wouldn't advice either of them for any production use. And android devices are cheap.
EDIT: just an after thought. Maybe a chromebook will work as it supports running Android apps nowadays.