Can i use this
http://www.thesource.ca/estore/Product.aspx?language=en-CA&catalog=Online&category=Playstation+2+Accessori es&product=5810257 with my PS2 wheel on my PS3?

Heres the wheel i have: http://www.canadacomputers.com/index.php?do=ShowProduct&cmd=pd&pid=013373&cid=PE. 468

Will it work on my PS3?

It may, but usually game peripherals for ps2 don't work as well with ps3 such as wheels and guitars and microphones. I was going to get something like that adapter for a guitar for guitar hero 2 and the guy said its not worth it, its made mainly for controllers, not 3rd party peripherals