I know that Apple sells AV cables for their iPhone in order to connect it to a device like a TV so you can show your family and friends pictures or videos on your iPhone.
Is there a way to do this wirelessly via WiFi network onto a device like a PS3?
you can stream media via a wireless network to the PS3, view media wirelessly from an iPhone to a PS3, no you can't. The PS3 isn't compatible with the iPhone or iPod Touch, and the video on an iPhone is in a format not supported