Each printer driver has its own unique settings so there isn't a one-size-fits-all solution to your question. It is possible to fiddle with the Windows API settings to work out what needs to change on your particular machine but it would require a lot of trial and error.
There was a good suggestion on this thread to set up two different printer drivers - one colour and one B/W and then print a copy to each driver.
Redirecting
The thread also points off to working with the API to figure out your specific settings if you wanted to try that approach