"Are we waiting for my wife or your husband?"
Translation:Čekáme na mou ženu nebo tvého muže?
The wrong word in your sentence is "vaši", that's the feminine gender. The masculine animate form (accusative singular) is "vašeho". You also have a typo in "manžela".
Other than that, it's all right and would be accepted. But what do you think makes it "even better" than the translation given here? If anything, it's a bit less natural.