There are two factors here: the speed at which you run the RAM, and the maximum speed of which the RAM is capable of.
Each DIMM is independent. However, they all run at the speed which is set by the motherboard. If you set the motherboard to PC2100 speeds, then all the RAM will run at PC2100 speeds. If you set the board to run the RAM at PC3200 speed, then all DIMMs will run at that speed.
Of course it isn't that simple. The PCxxx ratings on a DIMM are exactly that: maximum speeds that the DIMM is guaranteed to run at. A PC2100 DIMM has been tested by the manufacturer to run at that speed, and is labelled so. There's always the possibility that the PC2100 DIMM will run at higher speeds, but the manufacturer is only willing to stand behind a PC2100 rating.
Clearly then, the speed at which you set the motherboard to run the RAM at, should be the speed of your slowest DIMM, if you decide to mix RAM. Unless you are sure that your slower DIMMs can run at a higher speed, then you should set it to the rated speed.
In your case, if you are running your board at PC2100 speeds, and you put in a PC3500 DIMM, then the PC3500 DIMM will run at PC2100 speeds.