I've always liked the free version of
Online Armor personally. Strangely enough the official site only mentions a 30 day trial anymore, but I'm still getting updates and my license says "Free edition". It's limited to standard mode but it's good enough for me. I should mention that I mostly use it for its HIPS features, and not strictly for its firewall features.
I doesn't quite meet all your criteria (for example, you can limit the ports a program is allowed to use, but not IP ranges, AFAIK) and it doesn't play very nice with some of the AVs out there (when I tried it with Avast, my PC went crazy).
Also, sometimes it decides to block the windows updates that try to install themselves during reboot. You can work around that by putting the firewall into "Learning mode" before rebooting and switching back to normal mode when the updates are installed, but it's still pretty annoying when it happens.
You also have to be prepared for a ton of questions. Every single time you try to run something that isn't in the whitelist, it's gonna keep asking for your approval for every little thing the app is trying to do unless you tell Online armor to trust the app. And if it's a full screen game, you can run into issues where the screen just stays black because OA is blocking it, but you're not seeing the OA popup because the game already took control of your screen.
Despite all that though, I can't live without it. I can't stand not being able to dictate what every application is allowed to do or not do. You might end up hating it, but I think it's still worth checking out.
Edit:
Found the info about the free license. It's still available:
Isn't Emsisoft Online Armor freeware?
Yes and no. By default Emsisoft Online Armor installs as a free fully functional 30 day trial version. After the trial period you can either choose to buy a full version license or switch to the limited freeware mode. Of course you can decide to upgrade again at any time by simply renewing your license.
