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I think it will surpass the Wii/PS1 in late 2019. Don't think it will get anywhere near PS2/NDS.

The PS2 was useful as a cheap DVD player, and was no where near saturated in developing markets.

The PS4 is getting quite decent saturation in developing markets, and doesn't have the "cheap DVD player" thing going for it.

The NDS was the most popular handheld system, was cheap, and incentivized multiple consoles per family. So, enough said.

Also console generations seem to be shortening. The PS4/XBO are already pretty dated hardware, as evidenced by the Pro versions being a stop-gap solution.

I think 115 - 125 million is a good estimate for lifetime sales, this year is likely the PS4's peak year, but how much it falls from that peak, I can't say. It depends on which markets saturate when.