You don't need a hotspot software for creating ad hoc connections.
First of all set up an IP address on the adapters on both machines.
In case you don't know how to do this (for Windows 7, don't know for Windows 8 yet), go to Network And Sharing Center > Change Adapter Settings > Right Click on your wifi adapter > Click Properties > Double click "Internet Protocol Version 4 (TCP/IPv4)" > Select "Use the following IP address" > Enter the following :
IP Address : 192.168.0.XXX (XXX is any number between 1 and 255)
Click on the Subnet Mask field once and it should automatically populate with 255.255.255.0
Click Ok and Ok.
Repeat the same for the other machine but set a different IP address i.e. different value for XXX above.
Now create a new ad hoc connection on one of the machines and connect to this network using the other machine.
Once connection is done, open "cmd" on one of the machines and ping the other machine's IP address (ping 192.168.0.XXX). If you get a response, that means your connection is working and you can now host and play.
Edit: I don't know the procedure for Windows 8, i.e. whether its the same or not. I don't use Windows 8 but I think the procedure should be the same. You just need to find out where you can change the adapter settings.