Is it advisable to bring my wife to the US on a student visa while waiting on her Green card?

The difficulty with your idea is that an F-1 student must be able to show that he or she is not an intending immigrant. Your wife would have to disclose on the visa application form that she is married, and that may present a problem to a U. S. consular officer in deciding whether to give her a student visa. If she indeed intends to study and applies for the student visa prior to engagement or marriage, she would be truthful in her visa application form that she does not have a fiancé or husband in the States. Other options available are a K-1 fiancée visa for her if you are a U. S. citizen. In that way, she would enter the U. S. is your fiancée, and you would both have the obligation of marrying within 90 days of her entry) or your marrying and you applying for her immigrant visa, a process that would take approximately one year. Due to the limitations of the Lawyers.com Forums, Alan Lee, Esq.'s (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.

Your wife will not qualify for a student visa once you are married because marriage to a US citizen, and certainly applying for a green card, evidences immigrant intent and a student visa is only for non-immigrants.  You can apply for a K-3 visa once the I-130 petition is filed and your wife can travel to the US as soon as the K-3 visa is approved (about five months later).