Cisco WAN :: Aironet 1242AG To Use As Extension

I've recently obtained a Cisco Aironet 1242AG WAP. I do realize this is not a standalone router. I would like to use it as an extension of my current router. So right now, the status light is alternating colors. If I understand this correctly, it cannot find the controller. I cannot telnet into it, or use the web broswer interface. They both say the connection is not available. However, when I check my DHCP table from my router, I see that an IP has been assigned to the MAC for the WAP. I've tried doing a factory reset by holding MODE before I plug in the power, and waiting until it turns amber. After a few minutes and going through a few LED changes, it goes back to continuosly alternating colors.