First thing you'll need to do is install a new software source. Launch the Software sources application and add these two lines:
deb http://ppa.launchpad.net/neil-aldur/ppa/ubuntu karmic main
deb-src http://ppa.launchpad.net/neil-aldur/ppa/ubuntu karmic main
Once done, run this command from terminal to add the correct key
sudo apt-key adv --keyserver keyserver.ubuntu.com --recv-keys D3E49C82
Finally, update your sources and install a new version of wine.
sudo apt-get update
sudo apt-get dist-upgrade
sudo apt-get remove wine
sudo apt-get install wine1.2
Assuming the you have an existing wine app that you run from the .wine directory, simply select "Configure Wine" from the Applications menu. Click on the Audio tab and unselect whichever current sound driver you are using (probably Alsa or OSS) and instead select the PulseAudio driver.
If you click Test Sound and hear something then you're good to go! Quit the winecfg application and go use wine again! If all goes well, your skipping audio should be gone. Many thanks to Neil Wilson for the good work!