Preston will join her real-life husband Travolta, who plays John Gotti Sr., as his onscreen wife - Victoria Gotti in the crime family flick.
Their 11-year-old daughter, Ella Bleu will also be in the movie as the couple's on-screen daughter, Angel Gotti.
"The love and passion between John and Kelly will bring a huge benefit to John Sr. and his wife, and to tell you the truth, they have a lot in common, producer Marc Fiore told People magazine. "They both lost a child at a young age and they understand what the Gottis went thru when the Gottis lost their child."
John Gotti became the boss of the Gambino crime family in New York City after becoming one of the mob's biggest earners and taking down family Boss Paul Castellano. In 1992, Gotti was sentenced to life in prison after being convicted of five murders, conspiracy to commit murder, racketeering, obstruction of justice, illegal gambling, extortion, tax evasion, and loan sharking. He died federal prison in 2002 of throat cancer.
Lindsay Lohan was also cast in the film as Kim Gotti, the wife of John Gotti Jr. and Joe Pesci is rumored to have signed on to play Angelo Ruggiero, a member of the Gambino crime family and a close friend to Gotti.
Travolta, 56, and Preston, 48, have been married since 1991. They recently welcomed their third child, Benjamin, following the tragic death of their son Jett in 2009.
Travolta is known for films such as "Grease" and "Pulp Fiction" and Preston starred in films such as "The Last Song" with Miley Cyrus and "Jerry Maguire". The pair and their daughter also appeared together in the 2009 movie "Old Dogs" with Robin Williams.