I just want to know whether we can set up the DMC using the trail license (60 days)??
If so, how can I do it?
The DMC is free and does not require any license to function. You can set it up pretty much the same way for any Splunk Environment except for an all-in-one. The documentation is very good:
Yes, you can.
can you point me to the process....?
http://docs.splunk.com/Documentation/Splunk/6.4.3/DMC/Deploymentsetupsteps for a distributed deployment (for example if you have separate indexers and search heads) or http://docs.splunk.com/Documentation/Splunk/6.4.3/DMC/Singleinstancesetup if you're using only one Splunk instance for everything. An Enterprise Trial license has all the same features as Enterprise, with a 500 MB/day indexing limit. (Internal log files do not count toward that quota.)
Regardles of the type of license you are using, it all starts here - http://docs.splunk.com/Documentation/Splunk/6.4.2/DMC/Deploymentsetupsteps