Read through the Wikipedia article on WiFi to get some feel for what it is and isn't.
http://en.wikipedia.org/wiki/Wi-Fi
Getting 300ft may be a challenge for the kind of network you seem to be needing.
One potential problem you are going to have no matter what technology you use is the possibility for interference from other devices.
I don't know what kind of latency you are looking at with Wi-Fi. There is quite a bit of protocol overhead and medium access control overhead, but I don't have any kind of feel for the typical magnitude you might encounter.
http://en.wikipedia.org/wiki/Wi-Fi
Getting 300ft may be a challenge for the kind of network you seem to be needing.
One potential problem you are going to have no matter what technology you use is the possibility for interference from other devices.
I don't know what kind of latency you are looking at with Wi-Fi. There is quite a bit of protocol overhead and medium access control overhead, but I don't have any kind of feel for the typical magnitude you might encounter.