There are several possibilities for what's happening to you. The worst is that your local AT&T cable folks have decided that they won't provide a connection to AirPort products-they can determint that what's connected to the modem is an AirPort product from the hardware address of the ethernet port. Less dire possibilities are that the modem was given a command to refuse to give a connection at all if more than one computer requests one, the modem got stupid (it happens) and needs a restart, or your AirPort Base Station (or the cable that connects it to the modem) has crapped out.
You didn't mention how your bast station is configured, but I'm guessing that both of your computers had been getting their connections from the modem, rather than from the base station. Go into the AirPort Admin Utility and click on the Network tab. You should have a checkmark in the "Distribute IP Addresses" box, and the "Share a single IP address" button should be selected. This makes your base station a router as well as a wireless access point, and the cable modem will only see one device connected to it.
Let me know what you find, and whether changing settings as mentioned above helped.