A system and method for wireless cryptographic key exchange among participants in a wireless computing network is presented. This allows the authorized participants in the wireless communication session not have the same key before the wireless computing session begins. This wireless online key exchange/generation is based on a random modulation technique and a domino match. Once the initial modulation scheme is selected, each data transmission includes an indication of what modulation scheme should be used for the next data transmission. If a given number of bits are to be used, the modulation scheme for the final transmission may be limited to complete the bit transfer. The bit value assignments within particular modulation schemes may also be varied for each subsequent transmission.