Since both the PC and the Wyse (you didn't identify the model) are DTE (data terminal equipment), you'll need a crossover or null-modem cable that swaps at least RXD and TXD on one end (RTS and CTS, and DSR/DTR would also be a good thing to have. Look up "null modem cable" on the web; you'll get lots of hits).
After connecting the Wyse to a COM port, you can then set the bitrate and the number of data bits and parity using the DOS MODE command. You can verify operation by copying a short text file to the appropriate COM port; e.g.,
COPY MYFILE.TXT COM1:
If that works, you can then transfer the standard input and output to the terminal using the CTTY command. Note that this only works for the really basic text-mode stuff; don't expect games or graphic programs to do much. But you can at least run commands from the terminal.
There are operating systems, such as PC-MOS that are set up to use multiple serial terminals as well.