If it is a "real hardware" device, of course, vmware will not emulate it, so you won't be able to debug the driver under it (nor will any other virtualisation software, unless you extend one to do so).
Device driver debugging can be done to some extent with a real hardware machine with a normal kernel - although there are obviously things you can't do - like set breakpoints.
It is still possible to attach a debugger to the kernel and inspect stuff. Moreover, traditional printf() debugging is quite possible (printk, anyone), and there are various features in the kernel which make debugging easier. It's possible to build the kernel with various debug options to try to detect pointer problems, memory leaks etc.
By default, the kernel even gives a nice-ish stack trace on the log when it encounters an OOPS or BUG condition (obviously this does not necessarily get written anywhere if the system hangs or crashes). Of course a pointer-out-of-range condition happening inside an interrupt is a recipe for disaster, but you could still get a stack trace on the screen immediately before the panic :)