your router is probably a modem as well. the Airport Extreme is just a router with wireless. leave the modem/router plugged into the wall and run an ethernet cable to the WAN port (very left) on the Airport Extreme.
DHCP automatically assigns you an internal IP address to surf the internets. you only need one DHCP service having two may cause conflicts. so pretty much youre just disabling the router part of your modem and just using the Extreme's.