This is becoming an interesting topic for me. I see what you are trying to do. I'm imagining the use of the older sensory glove that used to be available in the '80s, I think. Anyone remember that ? It was used for one of the game console machines.
I came across some other useful points in the forum regarding battery wiring. Isolate your inputs to the circuitry if you can, decoupling [Arduino +Vcc] from the laser driver and servos. Its just good engineering practice.
I'm actually only 18, but that sounds fairly similar. With the new MYO, I'm going to use its Bluetooth connectivity with the Bluetooth module on the RFduino. I just hope it can handle the code.
The regulators depend on your devices. Say your Motors run at 12V, and the diodes run at 5V, and for the sake of argument, the Arduino has its own regulator on it. You'll need the 12V for your motor, and depending on the motors, it could be that it doesn't need to be regulated and you can just draw current directly from the battery. But for the sake of this example, your battery is at 13.5V, you do need it to be at 12V for the motors. Then you would need a 12V Regulator for them, that can handle the current necessary to power both motors at the same time. Additionally, the Diodes cannot be run at 12V, they need 5V. You'll need a 5V regulator as well, again that can handle the current draw of the lasers. Finally the Arduino has a regulator on it, but is limited (sort of) to a 12V input. Your battery is at 13.5V, so you cannot connect it directly or you'll fry your circuit (For the sake of this argument). However you have 12V already, so you can connect it there. You can daisy chain regulators to not over-voltage their inputs, but keep in mind that a regulator needs to be able to handle any power that gets drawn through it, so it will increase the power requirement for a regulator if add another to its output.
That definitely makes sense, I understand what you are saying. I really appreciate the help! So a 13.5V battery will power the servos with a 12V regulator and the 5V regulator for the diodes to make sure that 13.5V isn't fed to the servos or the lasers, correct?