PKS 2155--304 is one of the brightest blazars in the X-ray band. It was repeatedly monitored with BeppoSax during three long campaigns of about 2 days each in November of 1996, 1997 and 1999. The source underwent different states of intensity and was clearly variable with successive flares detected. This paper presents temporal and spectral analysis to study the X-ray variability trends for a blazar. The rich phenomenology is interpreted in the context of a model where relativistic electrons are accelerated through internal shocks taking place in the jets. The most important parameter turns out to be the initial time interval between the two shells ejected from the central engine to produce the flare, which may determine the structure of the shock and in turn the physical quantities of the emitting region to reproduce the observed trends of the X-ray variability (abridged). Comment: 51 pages, 11 figures, ApJ in press, Scheduled for the v572 no2, June 20, 2002 issue