With the effected object layer selected, go to Layer > Layer Style > Copy Layer Style. Select another layer then go to Layer > Layer Style > Paste Layer Style.
I think bluearks answer was intended for Photoshop.
In Illy - open up your Graphic Styles palette. Select the object with the drop shadow and in the Graphic Style palette click on the New Graphic Style button.
Now you can select your other object and then click on the icon for the new style that you have just created in the Graphic Style palette and it will add the drop shadow.
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