Someone used "Find my Iphone" to wipe my phone. Can I use the same app to find their location? This morning someone decided via either a prank or otherwise to log in to my apple id, and use Find my Iphone app to lock and then erase my phone, then leaving me the ominous message "This is what u get bitch". 

From Time stamps, I've been able to figure out what time zone they're in, but is there any otherway to perhaps zero in on where exactly they are so I may press charges or tell apple?
No, The app doesn't expose past actions and events to users.

You should check that your AppleID is emailing an email address you control since erase and lock events trigger an email to the email on record for admin changes / security at https://appleid.apple.com

There might be server logs and if you are really interested in knowing who erased your phone, having your lawyer contact Apple legal promptly would be the best avenue to get cooperation to track down where/who may have compromised your account. That would both help you decide to press charges and certainly alert Apple to the situation in an official and formal manner.

Of course, you should change your AppleID password immediately to some password you don't use on any other online site. Consider enabling two factor authentication as well if you wish to make your account harder to hack into going forward.


http://support.apple.com/kb/HT5570 - The FAQ on two factor security