If I was you, I would save up some money and buy a real headset. Your budget would have to be around $180 to $360 but you are getting a setup that sounds like $1000. For the price of a cheap HTiB, you can have audiophile gaming quality.
Lowest tier would be around $180. $190 if you buy from Amazon instead of Ebay.
This would consist of the Superlux 668b's or Samson SR850's paired with the Astro Mixamp Pro and Zalman ZM-Mic1. These are $40 to $50 semi-open air, studio reference headphones that compare to $200 to $300 headphones. The only thing you will be lacking is a bit of comfort however you could always upgrade the ear cushions to AKG.
The Astro Mixamp costs $130 and is an Amp/7.1 Dolby Headphone processor for Console gaming. It supports headphones at. 32ohms all the way up to 200ohms before you would need to double amp it.
For a mic, you would use either a clip on Zalman ZM-Mic1 for $10.00, $3.00 clip on mic from Deal Extreme or. $30 Antlion modmic which is an attachable boom.
If you want even better like I do, there are many pairs of headphones you could buy. Some of the best out there for a couple hundred are the AKG Q701's or Sennheiser HD598's. Neither pair has much low end bass but are excellent for competitive shooters due to their very large soundstage.
If you want a pair that's maybe a half a notch down on the competitive end (still 9 out of 10) and also a perfect all around headset due to better bass, the Sony MDR-MA-900's are the perfect choice.
All three of these options would be paired with a mic and mixamp the very same way. May sound expensive but is a small investment that will blow your mind and give you the best PS4 experience possible. A setup like this will easily trump a home theater setup at $1000 and you will look at Turtle Beach as a child's toy.