Rick and Peter will star Edwards and Peter Mitchell (Hollyoaks, Cast Offs) as exaggerated forms of themselves.
The half-hour one-off is based around Edwards's character being given a crash course in political correctness after making a gaff on T4.
Written by Tom Basden (The Party), the show has been greenlit by Channel 4 comedy commissioning editor Nerys Evans.
Other Comedy Labs specials airing this year include Kabadasses, an Anil Gupta-directed show about England's first white Kabaddi team, and an Anna Crilly and Katy Wix self-titled sketch show.
Comedy Labs has previously launched the careers of Peter Kay, Russell Brand and Jimmy Carr.
"Comedy Labs are an amazing spawning ground for future household names, giving their first TV breaks to a host of exciting new talent, both performers and writers," said Nerys Evans.
"This year's alumni is a fantastically diverse collection of comedy talent."