I've had the problem with a couple of iMacs -- first the 2010 which got fixed months ago and now a new 2011 whch showed the same symptoms. Both have Lion 7.3 and the default settings.
I went back through all my previous troubleshooting and notes and thought I had it fixed a couple times -- but no.
Finally, now I think I have it fixed -- after all the other iMac, except being a year older is running the exact same config on the exact same network with the same settings and O/S.
I reset all my network equipment -- first the Comcast router to the house, next the Apple base station and finally the 2 Airport Express devices I have set up to extend the network. Last, I powered off the iMac and restarted it.
It seems to be working now..not losing connection. Maybe something to do with the network refreshing the routing tables, losing the new device? Who knows.... All I know is that the other iMac has had zero problems for months -- probably after I reset the devices which I did back then for some reason.
Hope it helps.