It sounds like the following;
Your printer is using AD HOC mode to connect to your laptop and NOT setup as a 'device' on your wireless router. If so then simply get the CD / Manual out and configure the printer for your wireless network so ANYONE on the network can print to it
Printers are NOT 5GHz devices, and such don't receive / send on the 5GHz channel, so when you drop down you can talk to it because your speaking to it in the right way. Again I would put it on the network rather then use AD HOC mode which is what it sounds like you have it on.