I briefly researched this last night and from my limited understanding it should be possible using the DLNA feature as said above ^. It seemed video and picture streaming would also be possible...which would be sweet.
on phone
-enable wifi
-media share app
-check connection notification
-start
-video game console
-next
-next
-choose network(most be on same network as ps3) then hit next
-enable sharing (choose what you care to share) ok then hit next
ps3
-search for media server
it should then be availble to browse from your ps3. downside hd videos are not compatible with ps3