Using my Laptop as an Access Point for iPod Touch

Hello everyone!
Just had another question for ya'll.

I have a wireless network on the third floor of my house. My Laptop (Lenovo Y530) can get internet anywhere in the house. However, my iPod touch can only get internet on the first two floors, the basement doesn't get good reception. (however, my laptop can).

Is it possible to have my laptop connect to my router and have my iPod touch connect to my laptop? I am also using Ubuntu Jaunty (9.04) on my laptop.

Thanks!!