It is possible to ride from Howmans Gap, just below the Falls Creek resort ticket box, to Bogong Village. Behind the sheds at Howmans Gap, follow the Juction Spur Fire Track til a T-juction, left onto Spion Kopje Fire Track and descend into Bogong Village. Its a cool ride, but to be honest its pretty painful as it is constatly blocked by fallen timber after the fires. Good chance there will be snow on the trail too. Its a XC bike job, I tried it on the DH and near killed myself with ascents along the way. From Bogong Village, you're on the bitumen for 10 k's of up and downing until you reach the national park boundry. Follow the fire track off the big hair pin called Cranky Charlie. Link on to The Survey Track, an iconic Mt. Beauty section of single track. You'll have a blast on this all the way back to Mt Beauty.
As far as shuttles go, good luck! Its a long ride back up!