Another method to install Mac OS X Lion on other personal machines is by using Target Disk Mode, this allows you to use one Mac as the installation drive to install OS X 10.7 directly to another Mac via Firewire or Thunderbolt. This is fast, prevents redownloading which saves bandwidth, and works flawlessly. This tip was sent in by Randy, so a huge thanks to him for the tip and accompanying screenshots.
Quick note: Personally I find it easier to create and use a Lion install USB drive or even a home-made Lion installation DVD, if you have access to a USB key or DVD burner those would be my recommended methods. That isn’t viable for everyone though, so this article will show you exactly how you would install OS X Lion on another Mac using Target Disk Mode only.