Well a prism refracts the light going through it. Different wavelengths would be refracted by different amounts (thats why white light turns into a rainbow). If you send a red laser in, it would still be red, just refracted, creating a virtual light source. With the biprism setup, you would get two virtual light sources which would interfere. Now from here I believe you would use the same
diffraction formulas to find the spacing between the maxima, and from there you would solve for wavelength. I believe there is a tricky part where you need to calculate the spacing of the two virtual sources, because you cant measure them directly. I dont remember how :S
This is very brief, but please let us know if you need more detail.