Nice problem! Here is my solution (for Python 2.x)
iplist = [
"195.168.1.123",
"192.168.1.123",
"192.168.1.111",
"192.168.1.11",
]
lot = [tuple(map(int, ip.split("."))) for ip in iplist]
lot.sort()
iplist1 = [".".join(map(str, addr)) for addr in lot]
print iplist1
Sincerely yours, Roman A.Suzi
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