Allow me, it's the only way we do it. Let's assume you have made your separated channels in Photoshop. DO NOT delete the RGB file you started with. For each separation channel, double click on it, and in the ensuing dialog box, select spot color. Next, click on the color chip which will bring up the color picker; if not already there, click the custom colors button, and select the PMS number you want to use. IF NOT USING PMS colors, don't click the chip, just click Spot Color and name it and say OK. Do that for each sep channel. Now, Save it as a straight .psd file, WITH the RGB channels. Once imported into Illustrator, the RGB is what's showing, and looks fine. The sep channels are behind it. In your color pallet, at the bottom, you will have all of the spot colors you named in Photoshop. Go to print, do the page setup thing, then click on out put, change to Separations, then click on each spot color in the print dialog box to set the frequency (LPI) angle and dot shape (elliptical is generally best). Print to a laser printer or to your RIP...
Steve