A lot of people I know pride themselves on being able to pee in their wetsuit. (I cannot bring myself to do it) However, if you do, just make sure you flush the suit out before you get back on the boat. And then wash it good with some wetsuit neoprene shampoo after you return home. If not, you will be wearing, what we call "Pee-o-Prene." It doesn't damage the wetsuit, but it makes it smell pretty bad.
As for breaking wind.. The deeper you go, the harder it is to do that. Not much of a problem from about 30 feet (10m) or shallower. But, because of everything being compressed at depth, the urge is not there at deeper depths. But, if you gotta do it, just do it. It won't hurt anything.
What about 'bodily functions' 
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