WARNING: This method is still untested, and needs corrections (I'm just guessing based on the tutorial in the previous version, since I don't have an Android phone)
Download and install Proxoid to your Android device
Connect that device to your computer via USB
Launch Proxoid, and start the service
On your Android device, from home screen: Menu > Settings > Applications > Development > USB debugging (make sure it is checked)
Press Ctrl-Shift-T. When the terminal appears, type the following:
sudo echo "SUBSYSTEM==\"usb\", ATTRS{idVendor}==\"0bb4\", MODE=\"0666\" >> /etc/udev/rules.d/90-android.rules
Download the Linux version of the Android
SDK, and then type the following command in the terminal (replacing ”/path/to/android-sdk_rXX-linux_86.tgz” with the path to the file you downloaded):
tar -zxf /path/to/android-sdk_rXX-linux_86.tgz ~
Type the following commands:

The path is a guess
cd ~/android-sdk_rXX-linux_86/tools
./adb forward tcp:8080 tcp:8080
Set Chromium's proxy settings to use port 8080 of localhost
NOTE: These directions will only work for web browsing