Goto control panel - devices and printers. Then click Add a printer.
Further select add wireless printer.
Next select 'The printer that I want is not listed' option.
Next 'Add a printer using a TCP/IP address or hostname.
Next you'll see options like devicetype and Ipadress. (You need to know the host name or IPaddress)
Choose 'Autodetect' from the devicetype, Add ip or hostname. Click next, install drivers, follow few other simple steps and click finish!
If you want to learn about LPT1 TO IP, you should check this post, because anything I write, won't be enough --- http://www.tomshardware.com/forum/25814-63-lpt1-address-windows
--- Read every line, you'll know the difference and you'll understand all the variations.