Thanks to an unfinished feature in Windows 7 called Virtual WiFi, you can now turn your laptop into a router. You'll need additional software to make it work. Connectify is in beta and is free, for now. It may be offered for a fee once it is released. You should read the FAQ on that page before downloading. There are several WiFi adapters that are incompatible right now, including many Intel chips.
According to Tom's Hardware, the feature takes your WiFi adapter and splits it into several virtual adapters that work independent of each other. Microsoft worked on this years ago but for some reason abandoned the technology. The components though show up in Windows 7. Maybe a future update or service pack will totally enable it. Until then, Connectify will do the trick.
Note that this is not Internet Connection Sharing. Unlike ICS, one of the virtual connections can be made to appear just like an access point, meaning it is drop dead simple to connect to. Even if the software eventually comes at a cost, by one or two usages you would probably have covered the cost in what you would have paid to get additional devices online. the only question is, is your network adapter compatible?