Plaid Cymru MP Jonathan Edwards warned him of a "constitutional crisis" if AMs rejected the draft Wales Bill.
Mr Edwards claimed it could treat Wales as a "second-class nation" by giving Westminster a veto over Welsh laws.
David Cameron said his government had a "proud record" of delivering devolution for Wales.
More power over energy, transport and assembly elections is being offered by the bill, under a "reserved powers" model where anything not listed as the responsibility of Westminster is assumed to be devolved.
Opposition parties have said the list of reservations is too long, with First Minister Carwyn Jones claiming the bill effectively proposes an "English veto" over Welsh legislation.
Mr Edwards, MP for Carmarthen East and Dinefwr, claimed during Prime Minister's Questions on Wednesday that AMs would not give their consent to to the bill as it stood.
"The veto and consent clauses do not apply in the case of Scotland and Northern Ireland," he said.
"Why is his government treating Wales as a second-class nation?"
Mr Cameron replied: "What this government has done is actually, first of all, hold a referendum so that the Welsh Assembly has those law-making powers.
"Second of all, the first government in history to make sure there is a floor under the Welsh level of spending - something never done by a Labour government.
"Now in the Wales Bill we want to make sure that we give Wales those extra powers - that's what this Bill is all about.
"We're still listening to the suggestions made by him, made by the Welsh Assembly Government, but this government has a proud record not only of devolution for Wales but delivery for Wales."
Later on Wednesday, AMs debated an assembly committee's report that said the draft Wales Bill was "impenetrable" and could leave Wales with fewer powers.
First Minister Carwyn Jones repeated his concern that the proposals risk rolling back the devolution settlement, and would go against the result of the referendum for devolved law-making powers in 2011.
Welsh Lib Dem leader Kirsty Williams appealed for extra time, and to the "open-mindedness" of Welsh Secretary Stephen Crabb, "to address the current flaws and weaknesses" in the draft bill.
Tory AM David Melding, who chairs the constitutional committee, said the bill was "in no fit state to command consensus" and should be "significantly amended".
Mr Crabb said in November he thought the bill as it stood kept too many powers at Westminster and has promised to make changes.
The prime minister has said the UK government is "still listening" to suggestions for possible changes to its plans for further devolution to Wales.