The only problem with using WiFi is if that signal fails for any reason the downloading of the Lion install files will fail and you will have to start over. So it is best, In My Honest Opinion, to connect the system to your Internet Router to do this type of thing.
I don't really understand why this seems to be so hard for certain people. If you have WiFi in your home you have a internet router that has 4 Ethernet ports on it. That router is Someplace in your home. Is it so hard to actual FIND that router and place the computer near it so they can connect the computer to it with an Ethernet cable. Especially when doing the Re-Install of what make the computer work.
Whatever.
Good Luck.
PS
If you follow my instructions and the WiFi doesn't drop out in 1-3+ hours you will be greeted with the screen that comes up when you first turn on a New Mac.