Also, most professors put strict limitations on what you're allowed to use if the objective is to demonstrate the ability to use uCs to implement some project because it would be defeating the purpose of the assignment (unless the laptop was "in addition to" the uC)
I don 't think that's the objective... He/she is a media arts student. The electronics and "low level" computer programming would be for the engineering student's project/thesis. (If such collaboration is allowed.).
To minimize the electronics & engineering... You don't need to be an engineer (or electronics or programming expert) to hook-up a computer and DMX lighting controller and "program" a light show. DJs and people who work in theater lighting don't usually build their own electronics. Sometimes you might need something special in a theatrical situation, but you've also got a deadline so there isn't much time for design, building, troubleshooting & debugging... In that case, if you don't already know how to do it, you find an expert. There certainly isn't time to learn electronics.
If you can find a heart monitor that plugs into a computer, you wouldn't need to build any electronics. You'd just have to "program" the lighting effects application.
It would also require a little computer programming to "connect" the heart monitor application to the DMX application, and this could be tricky because the applications are not designed to talk to each other. (That's something you'll probably need some help with.) The sound could also require some programming, or maybe some MIDI "programming". depending on how fancy you want to get with the sound. MIDI programming is something a music student could help you with if you don't know anything about it already.
P.S.
Another issue with collaboration is that the first part of the project is 90% engineering and 10% art. The 2nd part of the project is 10% engineering and 90% art... It might take an extra semester to complete the whole thing.