Shitzmagee hit the big point: move out of your dorm before you deploy so you get BAH to cover your wife's housing while you're gone.
Living off base sounds like a good deal. Before you jump for that, though, look at the other costs. What would you have to pay for rent in a decent (safe, clean) place in the surrounding towns? How much would electric, sewer, water, trash, etc cost? If you work in one direction, but your wife has to work someplace else, how much more will gas cost? Those can vary widely, depending on each town and the county it's in.
If you stay on base, would you be able to drop down to one car? Not having to pay for registration, gas, maintenance and insurance on a second vehicle might be more than the leftover BAH you might pocket. Run the numbers and see. If you lived on base, would biking be too much, or are you only ruling it out if you're living in town?
If you opt to stay on base and there's a waiting list for housing, apply slightly before you're supposed to get back from your deployment so you won't have to wait as long once you're home. You can ask around your unit and get a feel for how long others near your rank waited to get an idea of if that's a factor for you.