Welcome to the discussions!
Is there any way I can block his PS3 from accessing the Time Capsule without disconnecting the Time Capsule from the internet?
Yes, if he is connecting now using wireless. No, if he's using ethernet.
It will take a bit of thinking to understand the concept of Timed Access, but in general if you elect to use this feature, you don't "block" a device from connecting, as you might think.
Instead, you +allow only specified devices to connect based on their MAC address or AirPort ID+. So, in effect, devices that are not specifically allowed +will not be able to connect+.
It gets more interesting though. If you prefer, you can set daily time limits on any device that is allowed to connect. So, for example if you wanted to allow your computer access at all times but limit your son's game console to specified times on specified days, you can set that up as well.
If the kids have their own computers, it's also a great way to keep them off the internet after midnight.
Open AirPort Utility - Click Manual Setup
Click the Access Control tab below the row of icons
For MAC Access Control, select Timed Access
For detailed info, click the Help menu at the top of the screen and enter the following in the search box +Controlling access to your wireless network+
A note of caution. The default setting for the network is unlimited access. This means any device can connect if they have the password. You must change the default setting to No Access. Then you click the + (plus) button to add each device that you want to be able to connect and establish time limits for that device.
If you get confused, click Revert at the bottom of the setup window and everything will reset back to the original defaults and you can start again.