You know, usually it is the couple about to give birth who goes nutty at the end of the pregnancy. In this case it's the soon to be grandparents.
Just slow it all down. Your wife has never met this man. It is likely that the reason he is finding girlfriends via the internet is because the women who know him have already rejected him. Once she meets him she can begin to form an opinion. It's likely she'll be back home with her family pretty soon. In the meantime it's too early to know.
Your wife is in love with a fantasy. Maybe her fantasy will pan out, and then maybe it will be a bitter disappointment.
In the meantime, try to focus on bringing a new child into the world. This should be a happy time for your family.