Yes, it is fairly easy to set it up. Disable wireless in the 7632.
Log in by ethernet to the N1
Disable DHCP (since DHCP is done by the 7632)
Change the IP address of the N1 (eg if the 7632 is 192.168.2.1 then make the N1 192.168.2.201 )
Set up your wireless in the usual way on the N1
It should then work.