This has been attempted before, but I have to warn you of one limitation of using a mouse laser for navigation. Mice can detect movement in the x and y direction, but they cannot detect rotation.
Take a mouse that is pointing up and rotate it by 90 degrees to the right, you'll notice it barely moves on the screen, ideally not at all. Now move it forward. You'll see the cursor go up rather than to the right. Why? Because the mouse does not detect rotation. Thus a mouse needs to be combined with a gyroscope or secondary mouse for navigation purposes.