I had same issue..
After two days of troubleshooting .. I think I found the solution..
After beating my head in trying to fix the Laptop, I decided it had to be something on the Cisco causing it, because if I walked out of range of the AP it would not blue screen..
It was related to a broadcast SSID that was configured for WPA (not sure that made a difference) on my Aironet 1200 series and the way the Compaq Wireless card recieved that transmission.. by stopping the broadcast SSID the blue screen would stop.. or by disabling Radio on the 1200 the blue screen would stop..
Kept playing with the settings on the 1200 and after a day and a half I finally found it..
First Make sure you are at the latest revision of the IOS .. 12.3 (8) is my version.. then go into network setting.. 802.11 radio .. settings.. scroll down and find Aironet Extensions setting and disable it.. I think it's enabled by default.. as soon as I did this the blue screen stopped..
Good luck,
RB