Just a short recap to see if I understand you correctly

- you want to connect your empeg via Cross cable directly to the ethernet card in PC
- Both your PC and Laptop have Wireless adapters

I'm not familiar with that s**tty windows ME but with NT4 there was an option with TCP/IP somewhat like "Enable IP forwarding" which basicly means you can use the PC as a router. If this option exists in ME (and it probably won't) it can be done "out of the box", otherwise you need some utility to overcome this (something like winroute would probably be sufficient). But like mentioned by crazymelki you'd probably be better of upgrading to W2k anyway.

Don't know if it's an option but doesn't your wireless hub have a "spare" RJ45 socket so you can hook up the empeg to that instead of the PC ? It would make life lots easier for this particular wish