1) Set any Folders and/or Printers that you want to be available over the network as "shared" by right clicking them and selecting the Sharing option.
2) If using Windows 98/ME, in Network Properties (right click Network Neighborhood and select Properties), click the "File & Printer Sharing" button and ensure the appropriate boxes are ticked.
3) If using a software Firewall, put the IP addresses of the networked PCs in its "trusted" area.
4) For Printer sharing:
a) Connect the printer to the laptop, as though it were to be used with that computer, and install it. This ensures that it has all the necessary software/drivers on board.
b) Reconnect it to the "host" PC and, in its Properties, set it as "shared". In the laptop's "My Network Places" (or Network Neighborhood), the printer should then appear as a shared resource of the "host" PC along with any shared folders. Double clicking the printer in the remote PC should automatically install it as a "network printer" in the laptop. If you are always going to print via the network, you may want to set the "network printer" as the default.
Otherwise, have a look at this Microsoft article. It is an old article written for Windows 95, but the basic principle for installing the network printer should still be valid.