Laptop as internet provider for ps3

Hi!

I'm getting kind of pissed after spending two days trying to figure out my problem, so if any of you guys could help me out, that would be great!
See I'm using my laptop as an internet provider for my Ps3, it usually works great, but two days ago it wouldn't log on! the message I received was: the attempt to obtain an IP address timed out. I've tried everything in my power on the computer, cause I figured the problem must lie here, but nothing I do fixes the problem. Any thoughts?
By the way - I'm no wise guy when it comes to computers so please keep the advanced expressions to a minimum.
Appreciate it!