iknowhowtofixit :
It sounds like you are trying to configure something that may be outside of your skill level.
Not sure what you are doing wrong. I am able to broadcast wifi from my phone, connect to the wifi on my computer, bridge that connection to the lan port then connect that to a router (with DHCP turned off and the network cable plugged into a LAN port, not a WAN port). I can then connect to the router's wifi network without any real problems.
You're ignorant in this topic man.
I had to go look it up on another website and it turns out you have to manually configure it because windows 7 ICS wizard doesn't know how to do it like XP does.
(Posted on the last answer is the solution to fix this problem.)
http://social.technet.microsoft.com/Forums/en/w7itpronetworking/thread/5d188cfb-f5ca-4e18-ba48-36b76c82e5f0
For anyone who looks at this topic in the future here is a guide on how to do it.
Ignore the other posts because they don't work.
First step is enable your wireless connection to share
Properties / Sharing tab , Check both of the boxes
Next go to your LAN connection and open it up. Hit properties.
Go to Internet Protocol Version 4,. Properties
Set IP address manually to 192.168.0.1 and SUBNET MASK to 255.255.255.0
Hit Ok and your LAN will send an IP to your router or game system.
You need to make sure the other device is set to receive an IP address automatically.
If you try to bridge the connection like "iknowhowtofixit" suggested. Your other device will never get an IP address assigned to it. Thus never able to access the internet.