If my wife is a US citizen she is petitioning for me, can she also petition for my parents?

Regrettably, there is no visa category by which a U.S. citizen may sponsor her father-in-law and mother-in-law for immigration benefits. If you and she are successful in the marriage-based adjustment of status case for you, then after three years of being a Permanent Resident you may apply to become a U.S. naturalized citizen, and then you, yourself, could petition for your parents. In the meantime, it may be worth exploring whether there are any other immigration options for your parents, such as an employment-based immigration case. Of course, there are many other details that determine eligibilities and options. It would be wise for you and your wife to consult with an immigration attorney who, after learning all of the relevant information, could advise about eligibilities, options and strategies to attain your goals, and who then could offer legal representation in the often complex application process for you to adjust status, and could address potential options for your parents, too.