Here's a custom control I made based off mahasen's answer.  Put it in it's own class file and fix the namespace to whatever you want.  Once you rebuild your solution it should show up as a new control in your Toolbox menu tab that you can drag/drop onto a Form.
using System;
using System.Linq;
using System.Windows.Forms;
namespace MyApp.GUI
{
    public class FilteredTextBox : TextBox
    {
        // Fields
        private char[] m_validCharacters;
        private string m_filter;
        private event EventHandler m_maxLength;
        // Properties
        public string Filter
        {
            get
            {
                return m_filter;
            }
            set
            {
                m_filter = value;
                m_validCharacters = value.ToCharArray();
            }
        }
        // Constructor
        public FilteredTextBox()
        {
            m_filter = "";
            this.KeyPress += Validate_Char_OnKeyPress;
            this.TextChanged += Check_Text_Length_OnTextChanged;
        }
        // Event Hooks
        public event EventHandler TextBoxFull
        {
            add { m_maxLength += value; }
            remove { m_maxLength -= value; }
        }
        // Methods
        void Validate_Char_OnKeyPress(object sender, KeyPressEventArgs e)
        {
            if (m_validCharacters.Contains(e.KeyChar) || e.KeyChar == '\b')
                e.Handled = false;
            else
                e.Handled = true;
        }
        void Check_Text_Length_OnTextChanged(object sender, EventArgs e)
        {
            if (this.TextLength == this.MaxLength)
            {
                var Handle = m_maxLength;
                if (Handle != null)
                    Handle(this, EventArgs.Empty);
            }
        }
    }
}
and just as a bonus I wanted it to auto-tab to another box after I entered 3 characters so I set the box's max length to 3 and in the Form code I hooked that TextBoxFull event and focused on the box beside it.  This was to chain 4 filtered boxes together to enter an IP address.  Form code for the first two boxes is below...
    private bool ValidateAddressChunk(string p_text)
    {
        byte AddressChunk = new byte();
        return byte.TryParse(p_text, out AddressChunk);
    }
    private void filteredTextBox1_TextBoxFull(object sender, EventArgs e)
    {
        var Filtered_Text_Box = (FilteredTextBox)sender;
        if (!ValidateAddressChunk(Filtered_Text_Box.Text))
            filteredTextBox1.Text = "255";
        else
            filteredTextBox2.Focus();
    }
    private void filteredTextBox2_TextBoxFull(object sender, EventArgs e)
    {
        var Filtered_Text_Box = (FilteredTextBox)sender;
        if (!ValidateAddressChunk(Filtered_Text_Box.Text))
            filteredTextBox2.Text = "255";
        // etc.
    }