You can just make sure the latest vcredist is installed, it automatically includes support for older versions.
I think the easiest way is to use bootstrapper to install the runtime before starting the installer. You may need to create your own package, but it's easy to use the Bootstrapper manifest generator .
In the product.xml file, you can add an installation check to make sure it is not installed twice, for example:
<InstallChecks> <MsiProductCheck Property="VCRedistInstalled" Product="{1F1C2DFC-2D24-3E06-BCB8-725134ADF989}"/> </InstallChecks>
See here for other GUIDs.
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