Absolutely! Once you get beyond thinking that a wireless card to a wireless gateway/router/modem/backbone/whatever is something totally different than a simple cable connection ... then it's just sharing through ICS. ICS can be used from a BNC connection, wired ethernet, wireless ethernet, et cetera.
Also a note on that... I had to disable Comodo firewall on my host computer in order to let the 2nd computer connect to the internet; just something to keep in mind =).