Chromecast vs Miracast for screen mirroring gaming using controllers. Which is better

I’m wondering if anyone knows the status of these two technologies and which will provide better latency for gaming.

I’ve heard with the Chromecast, you can improve latency by setting your phone to be a mobile hotspot, then connecting the chromecast directly to your phone, instead of using a router as a middle point between your phone and your chromecast.

I would ideally like to do this with 2 ps3 controllers wirelessly connected to my phone with bluetooth. What I’m hoping is that even with the controllers wirelessly paired to the phone, and the phone screen wirelessly mirroring to the TV, it will have low enough lag to be playable. I’ve heard some people say it’ll work fine with either Chromecast screen mirroring or Miracast. Mobdro

I also realize that using wired controllers would probably reduce latency. But, first off that isn’t as cool, and secondly I’m not sure I can if I’m trying to connect 2 controllers to the same phone. Whereas I know that’ll work wirelessly.

The goal is to be using the phone as an emulator and playing games like Mortal Kombat with two players. Assuming it works, all you’d need is your 2 controllers and your chomecast/miracast dongle (and the TV). Highly mobile setup.

Anyone have experience using one or both of these recently, and knows if this is feasible?