This wasnt actually all that hard.
Get network driver for Canon printers
tar -xzvf cups-bjnp-0.5.3.tar.gz
Install CUPS development files
apt-get install libcups2-dev
Make sure your Ubuntu box is on same ethernet subnet as printer. This is only required during first setup.
It should spit out something like:
network bjnp://192.168.3.252:8611 "Canon MX850 series" "Canon MX850 series 192.168.3.252" "MFG:Canon;CMD:BJL,BJRaster3,BSCCe,NCCe,PLI;SOJ:TXT01,BJNP2;MDL:MX850 series;CLS:PRINTER;DES:Canon MX850 series;VER:1.050;STA:10;FSI:07;HRI:OTH;MSI:DAT,E3;"
Install (as root)
Go into gnome printing wizard.
It should automatically search and find printer.
Select the printer. It will look for a driver and fail. Manually set the driver to Canon PIXMA iP5300
This was based on the fine work of the guys in the thread here