I hooked up my laptop downstairs to my desktop upstairs using just 3 spare phone conductors using the Win95 Direct Cable Connection, which requires that IPX/SPX protocol be installed with NETBIOS checked. I can now run programs remotely (slowly) and access remote files.
Win95 Interconnecting Serial Cable Description:
A minimal cable will have 3 wires:
DB25
2 to 3
3 to 2
short 4&5 at both ends (RTS, CTS)
7 to 7 ground
DB9
3 to 2
2 to 3
short 7&8 at both ends
5 to 5 ground