WifiSpot

WifiSpot will turn your wifi enabled Windows laptop or PC into a virtual router that will let other wireless devices such as laptop, smartphones, PDA, tablet, iPad, PS3, etc., connect to your PC and use its internet connection.

The program also can be used to extend the range of an existing Wifi network.
The wireless networks created with WifiSpot uses WPA2 encryption, to ensure the best security possible. WifiSpot can be set to auto recover and restart if there is a network fault.