Insert the Mac OS X Install DVD into the Mac or PC with the optical drive you want to share. Install the Remote Disc Setup software located on that disc.
Insert the software DVD you want to install onto MacBook Air into the host computers drive.
In the Finder on MacBook Air, under Devices, select the icon that says Remote Disc. Click on the computer you enabled, and then double click to open the software DVD. Now go through the installation just as if you had a built-in optical drive.