This will work fine. The only thing you'll need to do on the AEBS is disable DHCP serving (uncheck the box that says something like "Distribute IPs").
That said, you could save a lot of money and buy one device to do the work of both of those. I like the Netgear MR814. It has EXCELLENT reception and goes for about
40 bucks at buy.com. This also has 4 built-in ports for wired devices. It's .11b, not .11g, but g is over rated, in my opinion, and is not as rock-solid as b. And for $40, you can hardly go wrong.