Wireless instantaneous audio streaming

Does anyone know if it's possible to stream an audio signal to another computer with very little delay?

My setup is simple - two computers, one router... no internet connectivity (just local network). The router is intended to be used solely for wireless connection between the two computers. They are relatively quick systems, and the router is running in draft N / G mode...

In my thinking, it should be completely possible to stream a wireless audio output over the network and have it be received almost instantaneous, with no loss in quality... the bandwidth that a streaming WAV takes is less than the bandwidth possible through the router.

What I did so far, which worked, was I used VLC to stream audio between the two computers, using 'Virtual Audio Cable' as a sound card emulator. The delay, when streaming via udp or rtp, was still between 1.5 to 2 seconds... which is way too much. I need it to be almost instantaneous. The goal is to be able to edit and mix sounds live on a laptop without needing a long cable connection to my stereo.

No such thing exists, it seems...?