Changing Android Studio Emulator from localhost:port to 192.168.x.x
SOLUTION
I was able to fix this issue by doing the following:

Telnet onto the emulator (telnet localhost portNum)
Auth using the auth command and token in your user folder (.emulator_console_auth_token)
Use the redir command once authenticated &quot;redir add tcp:123:456&quot; (This command says to send anything destined for host port 123 to port 456 on the android emulator)